U.S. Wheat futures

[furrowtickler]

Got more life today , just a blip or will this keep going ?

[farming101]

A few thoughts-
Minneapolis may be putting in a near term high. A probe to the low/mid 5.40's in MWZ could be in play. I don't see end of day prices in the 5.40's. If it happens, bullish.
There is good price support - 5.10 to 5.20 December should hold.
Local bids are trying to source wheat for near term shipment but storage premiums have disappeared.(I should change that to some companies are paying 40-50 cents for storage till next summer, others hardly any, 10-15 cents) Likely the sales book isn't too thick for next year yet. Still thinking more weakness for the CAD.

Mar17 over Dec 16 spread



Kansas and Chicago, who knows. Before today they looked very weak. Chicago may get some day trader interest to the long side. Kansas don't think so.

[furrowtickler]

Good to know , thx 101

[farming101]

Should have added, now you know what I think. A dangerous thing!