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Theodore, Saskatchewan | ND,
You are quoting me right. I did say that I felt new lows were not coming. There is something about wheat that I feel is much different than corn. What jp has marked as non structural happened much the same 40 years ago and it failed to ever get taken out. Corn confirmed that 2009 level by making new highs in 2012. Yet I would not be surprised to see that low taken out. Because for the trend to change corn will find the buyers are gone. But wheat is in more of a coil i believe. A coil does not take out the highs or lows at first. Just goes sideways building energy.
The contrary is as jp has shown that the job of this swing is to make new lows.
The truth is I have a debate in my mind. Time will tell and perhaps I am biased because I am long with wheat in the ground. | |
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ZW
