MGEX Wheat and ICE Canola Prices

[Oliver88]

Those ******* are just killing the market so they can buy in and push the market up and make shit loads of money. True price discovery is long gone. Hedgefund donkeys manipulate the markets to there advantage when at all possible. Heard one trader say it rained in South Dakota so that automatically means it must have saved the spring wheat crop. Give me a ****in break. Total bullshit artists.

LOL....rain on wheat in South Dakota that is already rolled up in a bale.

Classic.

[farming101]

I could easily be wrong on this hunch but don't think MWZ will spend much time under 7.25

[danny W1M]

MGE WHEAT DEC just formed the first shoulder in a head and shoulders formation.
Thoughts?

[Kinger]

Wheat will be trading $6.75 if the crop tours in the US report anything less than a barren wasteland.

[HappyFarmer]

I could easily be wrong on this hunch but don't think MWZ will spend much time under 7.25

Agreed.

We are getting way over done i think down here on wheat and canola........ We haven't even started the 17/18 crop year yet. Nothing to panic about. We all know how many problems there are out there. I'm sure someone is taking advantage of the down market we are in....and long term that's really not a bad thing. Cause today we don't have to do anything except watch.

Palm oil up 71 over night and canola down 5 LOL.

[farming101]

Exceptional activity in the MGEX wheat pit when compared to the last few years. Plenty of interest in taking a position.
US HRS exports will be down leaving room for Canada to step in. There is no doubt the potential is there in Canada for much better quality wheat this year, heat stress and all.
How much wheat will be baled in the dry areas? I think abandonment/feed number is way to low.
US HRS stocks/use for 17/18 is forecast to be cut nearly in half with exports down 9% and domestic use rising. Imports (from Canada) up over 50%.
To me this at least means stability with better basis down the road.

[farming101]

Price action yesterday and today in MWZ is indicating chances are good for another 3% higher into next week from yesterday's close.
Bean oil up 3%, Canola following at a distance

[danny W1M]

Traders getting in position for another drop in crop ratings coming out Monday.

Everyone knows that the manipulation, currently and widely known as the northern plains Wheat tour/survey was a complete fraud. It's been revealed as such in a quick manor, due to social media photos. They can't pull that fast one anymore.
Back to reality for traders. Those that'll short the wheat market, do so at their own peril.