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Buxton ND | Since the corn and bean guys are pretty quiet.
Wheat does not get near the fan fare as corn and beans. Plus the last many months hard to find ANYONE saying ANY positive about wheat. Last winter @CC could not find a soul friendly wheat and that was long before an awesome WW harvest. I was hoping for a hard freeze last spring to help the spring wheat carrot some more. YEP,,, it did get really cold a long ways south and the rest is a point of case why wheat traders do not play the game "The winter wheat froze" let's buy it, they have been burned bad way too many times.
The demand demand demand bulls really need to look at HRW its nearly 2x of one year ago levels, then HRS, sorry SRW guys your exports are worst then last years and last years was bad. Full dis-closer I have been long KE/short ZW for 3 months.
Jon G's comment below that I'm the only one friendly wheat. Probably yes from the producer side, NOT from the spec money side on KE. Just heard on M2M the funds are near record short wheat, NOT the case in KE or MWE there actually dam close to going net long KE. Again sorry SRW guys this does not include you. I've made some comments the past couple of months on quality/milling wheat and tons of feed wheat both here and world wide. This years wheat harvest world wide sure seems to be adding more wheat available to the feed bunks. Some of that junk French wheat is finding its way to Wilmington NC again.
French wheat has rallied alittle as has KE followed by ZW #THEparty is in MWE, little friendly spec numbers w-e Tuesday action since I would call a dam nice Viagra rally in MWE only, I know it sounds crazy butI could go a full blown MWE bull given some nice action this coming week :o)
Remember all that DP'd corn and beans sold by producers month ending August. IDK know if the DP contracts involved here or not but in ALL wheat's there was a donkey load of panic selling into month end August. Looking for other idea's here why ? Other then just cleaning the bins for corn ? ? ? We made "THE lows" in the wheat market August 31st 2016 IMO long term very meaning full lows.
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Lets Look at Wheat
