MGEX Wheat and ICE Canola Prices

[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.