Where are wheat’s legs coming from?

[jdg364]

With this weeks rains and next weeks forecast it looks like the majority of the prairies have had a taste if h20. This has me thinking that a person better be mindful of fwd selling some new crop.

cnl around $14 and wht around $8.50 is nothing special but might be all a guy can expect off the combine for the first 5-10bu. It was just a few months ago where cnl was around 12 and wht started with a 7

[errolanderson]

DECEMBER MINNEAPOLIS SPRING

Resistance now seen at $7.50/bu. If it breaks, next $7.80/bu. Looking overbought right now, but trend definitely up. Corn also moving, pulled by wheat.

Chicago / KC wheat fund shortcovering may be exhausting for now. But wheat lows are definitely in (IMO).
errolanderson.substack.com

[shtferbrains]

March 24 has been bouncing off that $7.50 resistance.

[jazz]

Widespread frost and drought in Russia Ukraine has already trimmed their production.

[WiltonRanch]

Yes -4c two nights in a row on ww at jointing isn’t good. Not to mention dry as well

[makar]

Was plus 1 here this morning now solid smoke.

[cropgrower]

wheat big jump up this morning

[sumdumguy]

Seeding is getting late around here, usually the new crops are covering gumbo flats. Very few crops are seeded- most are making trial runs and a few crops are greening up.

[Old Cowzilla]

They keep downgrading Russian wheat crop from frost and lack of rainfall.Almost 10 mil shorter than 2 weeks ago. Maybe that war thing too ..... who knows! Could not seed yesterday ,too wet but least got the spraying done.

[Sodbuster]

Wheat on the rise again, Minn up 10 cents, Kansas up 20 and Chicago up 18 cents. Looking like the trend line is finally up after resisting bullish news in the past, maybe the hedge funds will jump to the long side and spark a real rally. Hopeful the trend is your friend. I’m finally getting a 2nd chance to market my 23 crop that should have been dumped last fall.