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    #21
    Old ground but , Chicago wheat managed funds have recently held the largest long position since February 2020. Following improved precipitation forecasts across the US Plains, some profit taking ensued yesterday. Are futures topping out? Or will record Black Sea flour prices support the market? Will covid increase around the world support or hinder upside. Testing times.

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      #22
      Originally posted by malleefarmer View Post
      Old ground but , Chicago wheat managed funds have recently held the largest long position since February 2020. Following improved precipitation forecasts across the US Plains, some profit taking ensued yesterday. Are futures topping out? Or will record Black Sea flour prices support the market? Will covid increase around the world support or hinder upside. Testing times.
      Kansas City wheat appears to have broken its near-term uptrend, Chicago still intact, MWE has erased 20 plus cents off recent highs. Are soybeans now exhausting? . . . China buying post election will be interesting and dictate whether trend can hold. Volatility ahead for the commodity world (IMO) . . . .

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        #23
        Originally posted by errolanderson View Post
        Kansas City wheat appears to have broken its near-term uptrend, Chicago still intact, MWE has erased 20 plus cents off recent highs. Are soybeans now exhausting? . . . China buying post election will be interesting and dictate whether trend can hold. Volatility ahead for the commodity world (IMO) . . . .
        China can either accept their current commitments are a bargain and continue to buy or shitcan the market to previous levels....they still need grain.

        Either way the US farmer has come out with a win.

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          #24
          With fallout in stocks and commodities, the USD is apt to get some buying attention. The CAD and alternate currencies may feel pressure. Gold has been following the direction of equities. Crude oil selling is the result of COVID shutdowns.

          Volatilty in markets is again rising sharply . . . .

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            #25
            U.S. agriculture is in for a reckoning. 40 % of Ag income came from the government. This is unsustainable.

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              #26
              Annoying ain’t it outside markets affecting market. Not fundamentals or technicals basically covid related in my opinion.

              Worldwide panic maybe be worse than first round of panic.

              Could end up good for at in a few weeks time.

              No real change in markets here cash prices that is.

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