NoDakFarmer - 8/14/2017 12:11

Price always swings. It has been talked about on here for a long time. Energy levels. Price went vertical into structure before finding sellers. At that point simply drawing a fork would project the likely path of price with a high probability of reaching the ML. Today, price met that ML. Not saying this was the low put in, but it could be. The question becomes was 868 on the continuous THE high, or will this play out much like the bean chart where price exploded higher then pulled back and makes a HL. If this is a HL then 868 will likely be challenged again and very possibly exceeded.

There was bearish news aplenty when price was rallying also. I heard it constantly on the radio when driving. But, price new long before the drought where it was headed, and price also was telling us that this pullback was coming. We'll need to keep an eye on it and see if it can catch it's legs down here for another swing higher.

BTW, we live near Gackle and I don't have wheat, but most guys that I've talked to recently have said that they can't believe how good the wheat is given the conditions. Alot of 40-50 with some supposed 60's sprinkled in. Never would have expected that a month ago.