Macdon02 or others is this a issue wheat

[malleefarmer]

Or just to be expected? Volatility Panic Snowball effect , lack of confidence?

CBOT wheat: Record dumping of outright longs (34.5k). Prior record was 17.7k (Nov 2010).

Is it to simplistic to say, funds expecting market to go lower? Stem any potential or further bleeding?

[farming101]

Risk off; deleveraging. Expect this to continue as players either exit the wheat market or reduce their positions.
What does this mean for prices? With the influence of Covid-19 in every market you can think of, likely lower. End user stocks will be run lower, new purchases will be delayed if possible or negotiated at lower prices. I wouldn't be surprised to see a quick 10% drop.
Just-in-time shipping practices are going to be tested, and may provide a bit of balance longer term.

Still a few ships moving about. (Pirate industry not included)

[ajl]

Chicago wheat is soft red winter. We watch Minneapolis here as it is hard red spring. Usually Minni wheat is at a premium to Chicago wheat but this winter SRW has been higher as there was a shortage of the soft wheats due to a poor crop last year. Looks like SRW is looking good coming out of winter so the shortage of SRW will be alleviated and the traditional relationship between the SRW and HRS will reassert. HRS had bounced around recently but has not declined much overall. Then again it was not high to begin with so doesn't have far to fall.