11 Dollar Wheat!

[cottonpicken]

We just blew through the 11 dollar mark!!!!

BOOOYAAAA!

[cottonpicken]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aA1bLyYRxg3g&refer=home

So many goddamn lies i dont even know were to begin.

[cottonpicken]

http://www.youtube.com/watch?v=4n3g5lUgkWk

This might help some people along who are trying to understand the markets.Lweber i'm looking at you.

[charliep]

A couple of trades over $11/bu on March MGE.

Here is the quote site for those that want to look. Real market will start in 2 hrs.

http://www.mgex.com/data_charts.html#eveningsession

I hate forecasts but like the process of turning information into decisions.

If you were a consultant, what signal would you use to suggest the market is topping and your client should pull the trigger on pricing?

How would you deal with the inverse in the market? Normally, an inverse is a signal the market wants delivery now versus later.

For someone who does not have CWB pricing contract, why is the rally relavent to them? It will only increase the PRO by sales activity on unsold wheat? Would you encourage your clients to sign the "B" contract or hold to the "C" series/be prepared to hold 2008/09 perhaps combined with a summer DPC?

[SASKFARMER3]

Here is some thing charlie in a week US elevators will be having a quote in pit at close to $11.00 before Christmas and where will our Great Canadian Wheat board be (cant even sell all the grain to get to the C contract) at $6.86 - 1.70 = $5.16 to farmer. But its the dollar its the pool system its the tooth fairy or is it the Grinch that keeps steeling Canadian farmers Christmas.
One thing and only one thing is running this rally its the world screwed up and thought us stupid farmers would continue to grow a crop for peanuts. Well one disaster last year in Australia then the US
(frost) and Canadian droughts followed by frost drought in Australia and then Frost in Argentina. Guess what were getting to a panic point in HRS.
That's reality and the second thing that's real is the CWB will get us a supreme discount in this market.
WHY WHY WHY!!!

[cottonpicken]

Real market?seven o'clock sunday night is when the market opens.

Its time to START selling in wheat/durum market.

Its time to HOLD in the canola market.

Its time to HOLD in the oat market.

Its time to BUY in the fertilizer market.

Its time to SELL in the US realestate market.

Its time ti BUY sk farmland.

Its time to SELL canadian manufacturing.

[cropduster]

CP.......and for the cattle guys???????

[cottonpicken]

Things dont look could fundamentally or technically.I see some pain in the short term,long term though things look good,we just need those chindians to start eating as much meat as we do.

If you watched the above youtube video peter shiff(awesome analyst)explains how asians standard of living will eventually and dramatically rise.

[charliep]

If the wheat market showing signs of a key reversal? Todays action is making me nervous. Definition below.

Key Reversal Day: A one day chart pattern where prices sharply reverse during a trend. In an uptrend, prices open in new highs and then close below the previous day's closing price. In a downtrend, prices open lower and then close higher. The wider the price range on the key reversal day and the heavier the volume, the greater the odds that a reversal is taking place.

[charliep]

Will note that new crop is not following the same pattern as the front end (nearby contracts) of old crop.

[charliep]

Given the July and September prices have not rallied as much and likely over 50 % of the 2007/08 is priced, I am going to guess an increase of about $25 to $30/tonne for all wheat including durum (1/3 of the rally in the US). No major changes spreads classes, grades and proteins.

No idea on barley. Too many variables/too much interference true market signals.

[cottonpicken]

My opinion is we went over our uptrend channel line hitting 11.05 and are now heading to our bottom line of around 10.60ish.The black boxes simply stepped in and started taking profits.

We need to drop below that to even start talking about any kind of reversal.

[cottonpicken]

Whoops should have kept more up to date on the markets.What a diverence 45 minutes can make.

Looks like we clipped 10.60 and bounced.

45 point swing in the past 18 hours.
Can you believe that charlie?

[freewheat]

I say up 4 bucks. They will blame the still strong dollar, the ppo's, the conservatives, and global warming. Maybe George Bush.

[charliep]

Makes me glad I am not trading. There is potentially $2000 of pain or gain in one contract (5,000 bu).