Charlie Errol whoever

[malleefarmer]

I focus on wheat and canola mostly and sure alot
of the time it beans and corn and the above two
get caught in movements both ways and tag
along.
Just reading India is set produce 90.6 mill tonne
of wheat with a demand of 76 mmt with some
carryover from last year.
Govt to export soon when harvest is known,isn't
this something serious for farmers to factor in its
seems all super bullish because of weather but
still seems some caution or common hedging
sense is needed.
I guess when market is on a run up I'm always a
bit of a bull "calf"

[haveapulse]

India has storage and distribution issues resulting in a large % of waste. With a government project to create storage silos this may change.
One fellow who visited during harvest told me wheat was piled everywhere when he was there.

[errolanderson]

Global wheat stocks are again gradually declining despite supplies in India. But overall world stocks remain adequate.

Tomorrow is USDA. Fresh global numbers. The Chicago wheat market continues to struggle over bearish long-term fundamentals which has kept pressure on near-term prices. Also, U.S. in the middle of harvest.

Wheat can rally, but rallies should be sold in my opinion.

Errol

[hedgehog]

what are prospects in oz?

[malleefarmer]

oz is a mixed bag south aust victoria new
south wales just ok to very good wereas
west australia the biggest wheat state
poor to just ok. Alot of dry seeding going
on.
Wheat forecasters have trimmed production
estimates here a tad early to be doing
that in my opinion

[cottonpicken]

Wheat is about 400% undervalued.

[hedgehog]

yes cotton, you are right.
in 1816, the average annual salary was £20, and wheat rose that year to £22/ton due to shortage caused by failed harvest and war.
translate that to today?