Huge trading range overnight wheat

[malleefarmer]

Is this a sign market is getting toppy.
See most other commodities down oil etc.

Half decent rains in Australia stabalized season perhaps.

Still actually high stocks of wheat in the world albeit lesser quality.

Conversely weather doesn't look like its letting up stateside and western Canada

Quite a few farmers have done 15% expected production this week $305 and 10% of 2018 production $300

[bucket]

I think guys are taking some pricing now and into next year....that would slow the uptrend....still hot and dry and that doesn't appear to change for a while...not sure a rain in a week would boost yields.....it can't....