BOO YAA!!!

[cottonpicken]

WHEAT HAS GONE VERTICAL
LET THE SHORT SELLERS FRY!!

[melvill]

So cottonpicken, with a name like that, what do you grow? Grin.

Yes, wheat up pretty good today but, Chicago wheat up the most and it's the one in the greatest supply down south.
That and the fact that all the other U.S. crop-related futures were up big-time today makes me wonder what's up. 100% likely it was spec buying that pushed the market. Are spec buyers any "better" than spec sellers?

Have to remember, though, that today's Dec Minnie wheat close is still a long ways from the July high or even the May high. We need lots more spec longs jumping on to move the market up to those points. Okay, producers, it's your turn!

[nw9flynn]

come on melvill don't sound like such a bear. looking at the charts the next point of resistance on dec chicago is near 4.80. We are going to match this summers highs, but don't quote me

[melvill]

You're right about Chicago wheat going up. Dec Chicago is now at life-of-contract highs that took out the mid-May high. I just wonder how many prairie producers grow wheat that's priced off Chicago. The only ones I can think of are the soft white wheat growers here in southern Alberta that have electic rain.

And the only time I'm a bear is when my kids wake me up at 2:00 a.m. or play rap "music" at 150 decibels in the next room.

My point was that we need lots more help from the spec buyers to match the earlier rallies.

[melvill]

Few more details on yesterday's big upward movement in Chicago wheat where all the wheat price moves seem to have started.

Funds reportedly bought up to 25,000 Chicago wheat contracts yesterday forcing lots of "shorts" out of the market. Gee, 25,000 contracts in one day!

At 10:52 a.m. this morning, Dec Chicago wheat up over 16 cents. Dec K.C. wheat up only 9 cents and Dec Minnie wheat up only 3.5 cents. The market seems to be betting on strong Indian demand for soft wheat.

[Pulseman]

So, Melvill, how many contracts did they have already before? 50000 and drove their own contracts higher to sell to cottonpicker and friends next week, take $.50 gain and buy it back chunk by chunk when the winf is out to start it all again? Follow it and you will be surprised who is making Vegas look like a kindergarten.

[cottonpicken]

pulse,your the rare type of guy that hates it when a pretty girl looks at you.It makes you paranoid and frustrated that you wont be able to perform.Take a look at the charts and the important resistent lines we've broken.Dont worry remember-size doesnt matter.

[nw9flynn]

Limit up today!
The Charts don't lie. We broke through resistance and are now 30 cents up.
The question now is, How high will it go? 5.50? 6.00? This Chi mkt seems like it may be unstopable. It had pulled minn up by 20 cents this morning.

[melvill]

Waaaaaaa-hoooooo, cottonpicken! Just looked at the charts after being away at a hitchin' all weekend.

Minneapolis and Kansas wheat still haven't taken out the July highs but, Kansas is getting close. Maybe I should to away to more hitchin's.

BTW, Swiss people sure do know how to make a wedding reception fun. Those stuffy old watch-makers raise a lot of h--l when they're pumped up on chocolate . . . . oh, yes, we're supposed to be talking about the markets.....