C R A S H! WHEAT has imploded.

[bucket]

Kinger

You have to call baled fields of spring wheat zero and put it in the equation.

Zero plus 36 divided by 2 is not 36 bpa average. ....it's 18...

Use the math you want zero plus 46 plus 35 .....the average isn't 40....it's 27...

In Canada there are a lot of thin fields.....lots of nice heads but the stand isnt there.....

I think the shortage of good spring wheat will show up sooner than later....west coast prices haven't said there is an oversupply or the exporters are giving it away yet.

[Oliver88]

Minne wheat is down another 29 cents!!

She's over for selling good quality wheat.....if it hasn't been previously contracted lock the bins.

[Kinger]

I totally agree with you bucket those number definitely need to be looked at harder.

But when the USDA releases a report that's bearish the market will either believe or not believe it then react accordingly. Sometimes the other way.

In my opinion the recent losses in Minnie wheat are due to harvest pressure more so than the last report. Which based on some of the comments some people don't believe that's a thing. Don't forget these are futures markets it's based on what the price will be in the future. Hence after harvest when there is a more wheat in the market price tends to go down. Even if the crop is 50% smaller that crop is now 100% open to the market and can enter the supply chain at any given moment. Thus the decrease in prices.

[Guest]

Prices are $1 to $2 per bushel better than it looked last year at this time.

Pull up a historical chart on the Dec contract should show you whats happening.

Curious for the guys who don't like USDA reports and call them made up. What would you rather have the markets trade? Statscan? Everyone with a fm radio station? The way the wind blows?

oh , how about what's really out there for crop ?? anyone with half a f&$king brain knows that last usda report is a joke . they don't even try to hide it anymore . do you believe those wheat numbers ?????????.
but yes you are right , it is just harvest happy hour , no more , no less

[farming101]

Interesting price action in MWZ today. Not textbook but could be viewed as a bullish signal with a little help from tomorrow's trading.

Look for a green opening tomorrow with a close of 701.125 or better for more confidence.
Another down day cratering below today's low would cancel the signal.

I don't like talking up markets that are going down hard but it's interesting, that's all

[Stampsguy]

Farmers in US are screaming about USDA report. Some think it's time to abolish it. Go to AgWeb.com and read the crop comments section. Not a pretty picture down there in a lot of areas.

[SASKFARMER3]

My USA relatives that farm can't figure out what the hell the USDA is doing and why. Plus these useless crop tours that don't even count fields that the crop was baled, Really insulting is what they are saying.

Farmers are pissed and this shit might get interesting as the year goes.

Crop ratings down again on Corn and Beans yet wheat up. WHY because its to F#$King Late.

[errolanderson]

Corn ratings (released yesterday aft) are up 2% to 62% good-to-excellent. And with the excellent weather forecast ahead for the American Midwest, USDA 's 169 bu/acre might now be accurate (IMO).

Soybean rating of 59% is down 1% over a week ago. Soybean ratings have likely bottomed for this crop year (IMO).

[tweety]

7$ is a good profit if you keep your costs under control. But lots of shiny paint is so much fun now isn't it.

[farmaholic]

7$ is a good profit if you keep your costs under control. But lots of shiny paint is so much fun now isn't it.

HUGE difference between $7/bu @ 30 bu/ac versus 60 bu/ac.

Sometimes the market just won't pay enough to make some people profitable.