Hard Red spring Wheat

[wheatking16]

MGEX Hard Red Spring Wheat getting a bounce off the 200 DMA ahead of the WASDE report.

This is a no-trade zone for me, especially ahead of tomorrow's event.



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

[shtferbrains]

The whole market looks like a no trade zone these past weeks.

[Hamloc]

The whole market looks like a no trade zone these past weeks.

There is a difference between companies and their level of desire. I put a target in at one company about a week ago for $12 a bushel CPS because out of the 3 companies I contacted he showed the most interest. Friday afternoon I get an email from another company offering $12.15 a bushel for CPS. Whether it was the right thing to do or not I phoned the company I had put the target in in the first place and asked if they would meet that price. He said he would phone the buyer and get back to me. Took less than 2 minutes, called me back and said they would match it. Companies do appear willing to negotiate. I did call the third company and they weren’t interested.

[TOM4CWB]

There is a difference between companies and their level of desire. I put a target in at one company about a week ago for $12 a bushel CPS because out of the 3 companies I contacted he showed the most interest. Friday afternoon I get an email from another company offering $12.15 a bushel for CPS. Whether it was the right thing to do or not I phoned the company I had put the target in in the first place and asked if they would meet that price. He said he would phone the buyer and get back to me. Took less than 2 minutes, called me back and said they would match it. Companies do appear willing to negotiate. I did call the third company and they weren’t interested.

The basis is very strong right now… immediate movement now, over $3 cwrs and $3.50 CPS over the futures.

Sold a few loads of cwrs today, getting started .

Cheers

[wheatking16]

The basis is very strong right now… immediate movement now, over $3 cwrs and $3.50 CPS over the futures.

Sold a few loads of cwrs today, getting started .

Cheers

To Tom's point.

[FarmJunkie]

So what u thinking Wheatking? We gonna get a bounce higher again?

[TechAnalyst]

My vote is yes for what it's worth.

[TOM4CWB]

My vote is yes for what it's worth.

Lots to sell yet… sell into a rising market… when a good basis is attracting the wheat and our customers need this grain. Speculate with a Call option if sale not profitable enough.

Cheers

[furrowtickler]

So what u thinking Wheatking? We gonna get a bounce higher again?

Local elevator just offered close to December price again 👍

[wheatking16]

So what u thinking Wheatking? We gonna get a bounce higher again?

The Cash price is at the 200 DMA and 0.382 Fib Retracement so I anticipate a bounce.

I wrote about MGEX HRS wheat today and the bounce off the 200 DMA possibly into 955-970.

Tomorrow is the WASDE report so......

Chicago and KC are sitting just below their declining 50 DMA.

The short and longer term trends are not aligned so it no-trade zone for me.