Where are wheat’s legs coming from?

[shtferbrains]

Is that a rocket?

[jazz]

Now you guys have learned something about commodity markets. Has nothing to do with supply and demand. I mean bombs flying in the Russia Ukraine black sea regions, weather problems in SA, ME powder keg, India shortages, China hoarding, ships attacked in red sea and 75m new mouths to feed this year, and barely a blip in price.

[furrowtickler]

Well the vast majority of us actually do know , but sooner or later the supply demand can’t hide
This past 4 months has been another great grain robbery with every poor excuse on the planet to keep wheat prices down with all that you pointed out going on .

[bucket]

Too bad we don't have something like,say, sales reporting, like the Americans have.

Farmers tried through resolutions at farm group AGMs , it has been forgotten. The directors got caught up being short on contracts, and that became more important.

[blackpowder]

Farmers tried through resolutions at farm group AGMs , it has been forgotten. The directors got caught up being short on contracts, and that became more important.

I haven't followed why it's been forgotten over the years. It all seems paralyzed. And a deaf government for nearly a decade.
As for being short on contracts. There is insurance for that on wheat and canola. Contract revision shouldn't even be an issue.
Small player force majeure issues and late payments are.

[flea beetle]

Sold my wheat. Now it will skyrocket a few $/bushel…your welcome!

If only canola would catch some wind in its sails. Going backwards.

[AlbertaFarmer5]

Did the buyer come closer to your number, or did you have to compromise to their number?

[flea beetle]

They picked up the hard red at $9.50 for 1-13.5. I compromised on the cps at $8.68, but am now hearing G3 was offering $9.00 (my target) at the high before wheat pulled back a bit.

[Sodbuster]

Wheat markets up big this morning, are the hedge funds trying to unwind their short positions?

[wheatking16]

Wheat markets up big this morning, are the hedge funds trying to unwind their short positions?

They have been for a while but have been accelerating.

[jdg364]

With this weeks rains and next weeks forecast it looks like the majority of the prairies have had a taste if h20. This has me thinking that a person better be mindful of fwd selling some new crop.

cnl around $14 and wht around $8.50 is nothing special but might be all a guy can expect off the combine for the first 5-10bu. It was just a few months ago where cnl was around 12 and wht started with a 7

[errolanderson]

DECEMBER MINNEAPOLIS SPRING

Resistance now seen at $7.50/bu. If it breaks, next $7.80/bu. Looking overbought right now, but trend definitely up. Corn also moving, pulled by wheat.

Chicago / KC wheat fund shortcovering may be exhausting for now. But wheat lows are definitely in (IMO).
errolanderson.substack.com

[shtferbrains]

March 24 has been bouncing off that $7.50 resistance.

[jazz]

Widespread frost and drought in Russia Ukraine has already trimmed their production.

[WiltonRanch]

Yes -4c two nights in a row on ww at jointing isn’t good. Not to mention dry as well