Wheat Rally

[farmaholic]

The last two days, large increases on the MGEX closing near it's highs with little retreat to the lower end of it's daily trading range. What does that indicate going forward for the next couple of days or the rest of the week. Did southern Great Plains have frost damage. Late seeding in the northern plains?

Anyone care to comment

Edit: probably some wrong terminology, "retracement".

[SASKFARMER3]

If you still have snow in Minnesota and dakotas for another week or two your going to give up on wheat and do something else.

Cold here cold south next two weeks will say 9 lives gone and dead or it got lucky

[AgrivilleAdmin]

News from the CME on what is driving wheat, soy and corn futures higher.

Click to see latest futures prices http://www.farms.com/markets/ http://www.farms.com/markets/

[farming101]

I was somewhat surprised and wrong when MWK dipped below 5.95 recently. So, I won't guess too wildly.
MW is the follower and was really still retracing last summer's ramp up till now.
Kansas chart structure is the best and is saying volatility with a good chance to retain recent gains and move to match last summer's high. Todays high of 5.2875 in KEK could see prices move 10% on either side of that number in the near future.
Chicago wheat chart is positive too, but has a lot more resistance above.

For the first time in a while SK HRS bids have a better basis built in even though cash offers were a little lower last week. $7 for #1 13.5 in Stoon area today. July delivery. Back on March 15 I was thinking $7.20 then threw it out. Now might have to go look where I threw it.

[farmaholic]

I let it go, I'm done. Just a bit left.

I thought I was too old for premature speculation, I got so excited I unloaded most of my stocks.

LOL ;-)

[farmaholic]

When does overnight trading start.....

See what happens, what happens over the next week will determine the degree of seller's remorse I will suffer from.

[farming101]

First bid should post about 6:15

Never mind. Move on. Time to plan the next big crop

[farmaholic]

First bid should post about 6:15

Never mind. Move on. Time to plan the next big crop

Where's the fun in that?

[Rareearth]

Exports out of Eastern Europe/ Russia are going down, I’m wondering if they are out and next big harvest is the USA, or that’s the easiest place to make a paper hedge?

Plus weather

[Oliver88]

Wheat got itself out of the basement.

[biglentil]

Looks like its about to make a moonshot! If it breaks out of the 640 region buckle up.

[farmaholic]

Is it a little early to think the market has the same potential as it did last July? SF3 thinks its too late, I don't think so. The whole country side can't be and won't be 90 day barley and polish canola, lol.

I had to almost beg the buyer to trigger my wheat contract. They are at a premium to alot of other Co's for the specified delivery period....i doubt even they know where its going and said they are long a lot of tonnes at their premium price.

Maybe this time I will eat my words and preprice production that isn't even seeded and take my chances on delivering below spec. Talk is cheap, that's why I do so much of it.

[farmaholic]

Talk is cheap !

Show me the money !

Gerry !

Jerry Maguire or Gerry Ritz?

Gerry Butts?

[farmaholic]

MGEX resting and catching it's breath overnight?

[furrowtickler]