Wheat price MGEX

[danny W1M]

Do any of you know that wheat on the DEC2017 contract has dropped $0.82CAD per bushel, from Thusday's high to Friday's(today) close. The closest contract associated to durum.

[URL="http://futures.tradingcharts.com/intraday/MWZ7?anticache=1502478096"]http://futures.tradingcharts.com/intraday/MWZ7?anticache=1502478096[/URL]

There gonna make sure they get your durum good an' cheap,,,,and if it's a #5,,,,a whole lot cheaper still.

Oh and brace yourself for protein discounts, especially if it starts coming in at 16.5% and higher.

[Kinger]

It's associated with but the hardest hit areas of drought in the US and Canada were large durum producers.

It's like soybeans and canola they like to track each other but will diverge.

I think this is one of those situations and the price will increase compared to red spring prices.

Or i could be totally wrong. 50/50 either way.

[Oliver88]

What is the reason for drop?

-USDA report ?
-Selling in US ?
-Malleefarmer cleaning out bins down under?

[macdon02]

People respond to price and the majority is always wrong.

[Hopalong]

Thought the price run up was overdone but even respected analysts were telling us to hold out for more.

[Braveheart]

Short crop has a long tail. However, I don't think prices are high enough to ration supply.

[Oliver88]

Minneapolis wheat still going down but down trend appears to be running out of gas.

[Oliver88]

Minne wheat has actually moved up slightly this morning.