technical analysis suggests we're near a top; while fundamentals indicate crop are good across northern hemisphere and harvest should be excellent; in all cases much better than last year's. Prices might reverse from here
Could still take a few months till end of year, allowing some more upside like two times before. Interesting to see wheat was soaring just before the 2008 crash. Over the past few years I collected evidence of an exceptional confluence of circumstances this year, all triggered by the USD roll over. Assuming USD depreciation will temporarily appreciate USD quoted contracts, such as commodities. Nice avatar, big fan of the Alien and Aliens movies myself.
Pablo_Fiasco
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@Deep-Peat-Shark, in 2008-2010 the rise in wheat prices wasn't because of the financial crisis. it was because of terrible harvest for 2 consecutive years and very low stocks. It happened around the same time, but there was no causal relation
Pablo_Fiasco
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@Deep-Peat-Shark, that's why i think speculators are currently artifically cornering the market because they see a causality that doesn't exist
Deep-Peat-Shark
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@jele_31, Thanks for sharing. No causation and just correlation is also what I thought. I just never have heard it being mentioned in the context of the housing bubble back then, or my memory fails me, which is also very possible.