Wheat

[errolanderson]

Why I grow this stuff is beyond me! Getting to be the biggest joke of a commodity.
Zero acres next yr.

Ukraine analysts warned of this potential wheat price setback recently. Pullback of Russian troops may have eased the geopolitical premium built into Black Sea wheat export prices.

[errolanderson]

French wheat broke its 100-day MA overnight . . . more tough technical news for wheat bulls.

U.S. wheat futures downtrend remains in-tact (IMO) . . . .

[wheatking16]

French wheat broke its 100-day MA overnight . . . more tough technical news for wheat bulls.

U.S. wheat futures downtrend remains in-tact (IMO) . . . .

Interesting. I haven't been watching French wheat.

I don't typically plot the 100 DMA, however, the MGEX 100 is beginning to decline as well.

The 200 DMA is aligning with my 886 target on the March contract and 990 on the Continuous chart.






I added a page on my website to track my analysis.

https://www.klarenbach.ca/analysis/grain-report/hard-red-spring-wheat-futures-mgex

[Partners]

So how far is it going to fall?
Down $1.75 a bushel last few days..

[wheatking16]

So how far is it going to fall?
Down $1.75 a bushel last few days..

My next MGEX target is 886.

My next NW SK target is $10.75-11.00...... for now.....

https://www.klarenbach.ca/analysis/grain-report/cwrs-wheat-nw-sk

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[errolanderson]

Another heads up . . . ethanol prices plunged to a 6-month low this week, despite crude rally . . . warning for corn (IMO).

[wheatking16]

Another heads up . . . ethanol prices plunged to a 6-month low this week, despite crude rally . . . warning for corn (IMO).

Critical level for corn with the confluence of the VWAP from the May 7 high, the 50 DMA and the 200 DMA.

Like Errol states, if buyers don't step in..............



https://klarenbachgrainreport.substack.com/p/imporant-level-for-corn

[ajl]

Locally the price is pretty much the same for a CPS 11.0 vs HRS 13.5. All wheat is feed wheat once again. Kinda sucks when your wheat proceeded to convert expensive nitrogen into worthless wheat protein.

[WiltonRanch]

Maybe everyone around here goes back to cps and soft white again. With newer hrs varieties yielding on par with cps a lot switched back for hopes of better incremental price and better disease resistance. I liked cps but went back to hrs cause my yields were the same. Now soft white could blow the doors off the two but too late and a big wimp. I like growing wheat but appears too many in the world like growing wheat. On the other hand flax is the inverse of that.

[Landdownunder]

Iraq bought 150k mt of Australian wheat on tender today at $447 CFR for Feb from Viterra