Commodity Trends

[malleefarmer]

Has the down trend been broken?
Those who study charts may be able to offer some thoughts.

Its not going to run away on the top side but wheat may be setting new level at 410 to 425 until battle for acres happens in northern hemisphere.

Still a awful lot of wheat coming off here in Australia some areas which normally wind up before xmas are still plugging away and despite a run of wet weather quality basically isn't to bad has dropped mostly just one grade or in our area anyway.

Crazy rents and land prices is a world wide occurance.

Not quite sure what happen in france and Germany in particular but seemingly on paper canola would be best crop to grow but they still stick with wheat predominantly must be acreage payments and other subsidies I guess.

[blackpowder]

After feed quality barley, wheat the dog here for 17.

[errolanderson]

mallee . . . . until global wheat fundamentals improve, technical bounces are just that . . . bounces. USDA on Thursday which could throw a bone to this market, but unlikely. Winter kill story always pops into market press this time of year. CWRS bids have edged up since early Jan, but requires continued support from U.S. futures.

blackpowder . . . agree, feed barley in trouble as southern Alberta cattle rations are now likely as least 30 to 40% wheat and durum. Barley bids may stumble into February. Need export market badly, but that ain't happening . . . .

[farming101]

Chicago wheat trend is down. Maybe nothing lower than your 4.25 in nearby month for a couple weeks would indicate a bottom

[Kinger]

HRS Wheat probably isn't going to see futures rise until some more reports regarding seeding intentions for next year come out. In Manitoba it looks like some major cuts in wheat acres while soybeans, oats, and canola acres are going to get boosted up.

If you can run an averaging contract with a grain elevator Feb to May might be a good spot.

Just one guy who has to much time on his hands opinion.