Wheat correction over for now?

[malleefarmer]

Short term thinking this is gonna get boyhu.

[Oliver88]

Wheat prices have gained last week due to basis improvement (drop in CDN $).

[malleefarmer]

Wheat prices have gained last week due to basis improvement (drop in CDN $).

Same here our dollar 62 cents lost 5 cents since nov

[TechAnalyst]

That brings up a good point.

Assuming the entire world economy doesn’t have a complete meltdown, those with money will eventually look for new areas to invest in. That usually is in sectors that have performed well during times of weakness.

It may be our turn to get thrown down the outhouse next but so far, grains and oilseeds have held up relatively well. Especially when they are converted to Canadian dollars.

Should that continue and the world begins to believe it understands the scope of damage – allowing investors the confidence to stick their toes back in the water, we may see the benefit of their interest.

Meanwhile, the bright side of all of the ugly human behavior (panic hording) that this has highlighted is the need to take food security and supply seriously. Maybe the days of just in time inventory will be looked at negatively instead of celebrated.

For now, let’s just pretend all this excessive money being injected at zero interest rates will lead to the food we produce getting the respect it deserves.

[malleefarmer]

Bit of red tonight again.

Wheat is sneaking back up to $300 port for dec delivery take of $30 for my on farm price.

Falling currency’s holding up our prices.

Canola was 590 didn’t check today again port price take of 30

[Oliver88]

Dollar keeps getting hammered today, now at .715

Local wheat prices should be going up today.

[farming101]

Dollar keeps getting hammered today, now at .715

Local wheat prices should be going up today.

Grainco's usually share the exchange adjustments in a ratio of 99:1 in their favor. I would expect the same this time around all things considered. Yes I'm being sarcastic

[Oliver88]

Grain companies that were telling us the world is awash of wheat and the world is too good at growing wheat a month ago are now trying to buy wheat.

Interesting but looks like holding wheat will pay off.

[malleefarmer]

CBOT May wht up A$6.71/t to A$306.05/t & Dec up A$6.01 to A$316.31. Both driven solely by drop in A$ to 59.94 US cents. Support for CBOT as market tries to pick a bottom. HRW also supported despite some improvement in crop conditions in the Sth Plains.

[farming101]

ZWK has some pretty good support at 483. Some weaker support at 488 1/4

KEK weak support at 416 7/8, but a good outside day higher so maybe it'll hold