There will be fireworks in the markets on Monday, huge short positions in wheat that will have to be dealt with. The wheat crop is heading and it had 2 ft of snow on it in parts of Kansas Oklahoma and Texas as well had freezing temps. Other areas have had up to 12 inches of rain and still coming down. This will be beyond interesting. I would not want to be in a short position.
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Here's just a little more fuel outta S.A. to add to the explosion on Monday.
[URL="http://www.soybeansandcorn.com/news/Apr28_17-Polar-Air-and-Freezing-Temperatures-Sweep-Across-Southern-Brazil"]http://www.soybeansandcorn.com/news/Apr28_17-Polar-Air-and-Freezing-Temperatures-Sweep-Across-Southern-Brazil[/URL]
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Originally posted by BreadWinner View PostThere will be fireworks in the markets on Monday, huge short positions in wheat that will have to be dealt with. The wheat crop is heading and it had 2 ft of snow on it in parts of Kansas Oklahoma and Texas as well had freezing temps. Other areas have had up to 12 inches of rain and still coming down. This will be beyond interesting. I would not want to be in a short position.
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MGEX wheat is up in overnight trading. Like mallee said, let's see how far it can rally and if it can hold it's gains and for how long.
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Originally posted by farmaholic View PostMGEX wheat is up in overnight trading. Like mallee said, let's see how far it can rally and if it can hold it's gains and for how long.Last edited by biglentil; May 1, 2017, 06:33.
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Originally posted by biglentil View PostVomi levels in your durum are dropping fast. All the sudden its safe again. Special one day pricing alerts coming soon.
....that's enough sarcasm for one day biglentil! Oddly enough I had a dream, or should I say a nightmare, about marketing durum last night. Let's just say it didn't matter that I woke up and realized it was all a dream...not like I was disappointed because nothing in the "dream" was different than the "twisted unrealistic reality" I'm dealing with while conscious!
Happy seeding for those who are.... and work safe!
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Sell the rumour?
It is all but assured that this snow/rain did a number on the winter wheat crop which was already the second smallest acreage on record. Good to remember where this is starting from as far as price goes in the winter wheat market. The sub basement for the July contract. MW will benefit without a doubt but it is not the main attraction
Basis deteriorated this morning in some areas. Can't let prices get too high you know
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Phone is alive this morning from all kinds of wheat "specials" from traders with pants around ankles .what a f&$king joke this market is ? Where are the burdensome wheat supplies ??
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