In short-term I think wheat is ready to return to balance price.
+ soaring global ethanol demand;
+ prospects of lower crop inputs in the face of falling profitability;
+ strong recovery in global feed demand (USDA hiked by nearly 11m tonnes to 144.4m tonnes its forecast for world feed use of wheat in 2016-17. That's the second highest...
I still haven't come across any compelling justification to get long besides my technical read. Most fundamentals, crop yields, weather all appear to suggest we go further south but we are now in my buy zone
You can hardly get a simpler and less ambiguous recommendation than that.
After a 7 year bear market I think the time may have come for wheat to rise again. You can see a small monthly RSI divergence which has formed over the past 6 months and a larger hidden divergence which has formed over the past 5 years. Commercial buying is at historic levels and the...
Corn has broken and closed below it's wedge on a weeky time frame. We are looking for pullback triggers to get involved to the short side. Targets are identified and the stop will come from the trigger (on a 60 or 240 min chart)...NO TRIGGER, NO TRADE!
And there she is! After the crop report the boys decided to give a little head fake and run the stops of the weak longs. Now if we get above the 362.2 we could see a nice squeeze would could pop us. We are long and will be holding for the gap fill. Understand we are not fools at OFT... we can read. We understand that the agency is calling for a record 14...