Wheat

[makar]

So, wheat was 11 in Nov, got email 12 for Dec, come Dec its 13 no one buying. Starting hauling Tuesday 11.70 now its 11.00. Keep going or sit on the rest? its still good money no guarantee of holding or gaining soon.

[wheatking16]

So, wheat was 11 in Nov, got email 12 for Dec, come Dec its 13 no one buying. Starting hauling Tuesday 11.70 now its 11.00. Keep going or sit on the rest? its still good money no guarantee of holding or gaining soon.

It really depends on your timeframe.

My MGEX target got hit today at 886 which is the 200 DMA.

Perhaps, we get a bounce here.

[errolanderson]

It really depends on your timeframe.

My MGEX target got hit today at 886 which is the 200 DMA.

Perhaps, we get a bounce here.

Agree, U.S. wheat futures should bounce after such a hurrific price takeout in the past few days. But the bounce may be anemic. Testing a 200 day MA this week has been both shocking and amazing.

This MWE collapse is a kill shot for old crop cash spring wheat prices (IMO). Technical damage and uninspired protein market may be too much to overcome . . . .

[wheatking16]

Agree, U.S. wheat futures should bounce after such a hurrific price takeout in the past few days. But the bounce may be anemic. Testing a 200 day MA this week has been both shocking and amazing.

This MWE collapse is a kill shot for old crop cash spring wheat prices (IMO). Technical damage and uninspired protein market may be too much to overcome . . . .

I have similar thoughts.


Several of my sell signals are getting hit this week.

Perhaps it is a shakeout, however, I get the sense it is more significant than that.

[shtferbrains]

Looks like we got the bounce?
Makes it interesting.

[BTO780]

SKF are we still holding for $15, I haven’t moved a kernal to the crooks yet. They couldn’t scare me with that collapse. Six ft tall and bullet proof!! 😂🤣

[wheatking16]

Looks like we got the bounce?
Makes it interesting.

Got the bounce, now it has 3 months of supply to work through.

Previous support often acts as resistance.

One can always own on paper if the physical has sold to take advantage of a rise in price,....... if it is warranted.

[seldomseen]

My phone was jumping all day with texts from grain companies. Some companies twice so must be something happening!

[Sodbuster]

I’m going to start selling my wheat at $14.00 using TO’s and finish at $14.99, got to get mine sold before SKF floods the market with his wheat.

[furrowtickler]

My phone was jumping all day with texts from grain companies. Some companies twice so must be something happening!

Trains are coming , they finally need to buy something?

Up till now it’s mostly been contracted grain and some spot sales ?