Good to see markets rebound a bit

[furrowtickler]

Wheat been holding its own, up this morning decent
Hopefully recent crash in oilseeds was simply an overreacted correction.
End of the day supplies are still very thin in NA

[bucket]

And by what I have read about the northern tier states the crop isn't getting larger.

WE are half way through June and really there has not been substantial rain to offset the soil moisture deficit.

This is FPS week if I am not mistaken where there is usually a rush inside at the show because of rain...

While I realize it virtual ....it doesnt look like much rain for this week or the coming week either.

[agstar77]

The ongoing drought in SW U.S. is not going away. Record heat weather or climate change is not diminishing. Unless there is a major shift grain prices are not going anywhere.

[sumdumguy]

Ii listen to Sirius Radio, Chanel about 145 and they are talking about Kansas Wheat Harvest. Varying yields,, not bumper with protein levels in 7-9 range. They are hoping to see 11% later on.

[furrowtickler]

The Dakotas and Montana not good at all. Way too late for beneficial rains in many cases

[sumdumguy]

Farm Progress Week is usually around June 16-18?

[Sodbuster]

Had some wheat trigger this morning at $9.40, puts me at 50% sold. Hope it has more legs before the July month closes otherwise I think I’ll flip it to Mar or May 22 to extend this rally. Big market moves both ways on all grains, anything is possible at this point with the dryness down south.

[furrowtickler]

Had some wheat trigger this morning at $9.40, puts me at 50% sold. Hope it has more legs before the July month closes otherwise I think I’ll flip it to Mar or May 22 to extend this rally. Big market moves both ways on all grains, anything is possible at this point with the dryness down south.

You are a very patient marketer, good to see some can hold as long as you 👍

[Sodbuster]

You are a very patient marketer, good to see some can hold as long as you 👍

I sort of missed the boat last week with no targets in place put some targets in earlier this week. Wheat was all hauled out after seeding, basis was set last December with nothing priced. Basis really sucks now compared to last December.

[poorboy]

I sort of missed the boat last week with no targets in place put some targets in earlier this week. Wheat was all hauled out after seeding, basis was set last December with nothing priced. Basis really sucks now compared to last December.

Have you found that summer basis is normally higher in the winter months than it is in June/July? I usually hold my last wheat and sell it during a little rally in June/July thinking the basis was also better in the summer, but never really every watched basis that close.

[Sodbuster]

Most years the May basis is the strongest as not many like to haul in May. Every year is different but most times I will contract the basis 1st before pricing the futures month on wheat and canola. I’ve been dealing with Cargill for quite a few years now and they are pretty flexible on deliveries. We don’t haul our own grain so I usually have someone around to load trucks during seeding.

[shtferbrains]

Read about 2 weeks ago the Chinese central planers were looking for ways to cool the commodity market.
I'm sure that wasn't when they started planning but was when they wanted it announced.
Looks like they are bringing it all together with numerous announcements aimed at restricting demand.
Going to be an eye opener to see how much they are able to manipulate it at this stage.
Can they tank commodoties without killing thier own export markets?


Hang on this might get wacky.