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| Hey just my 2 cents. I think the markets waiting to see what the Usda comes up with. Be a crazy number or a crazier number I feel that's what we will trade off of till late November or early December. The only news we have seen in the last 3 weeks has been huge yields coming out of Minnesota. They really do not grow much wheat. As in North Dakota though a lot of areas had better then expected yields. I personally begged my crop at 25 and ended in the 50s. So if that holds for everyone there probably is more wheat then one thinks out there. Having some deliverys to town it really makes a guy think. Elevators up here are 75% full. Not because of harvest but because of July selling. You can drive into any elevator here during harvest and it was like driving into one in the middle of February in a blizzard. No grain movement what so ever. So my thought is we do regain some of what we lost and basis will have to improve, but UNLESS the Usda gives us a gift- so highly unlikely of a big abondoned acres figure, we won't bounce till late this year and may have a chance of another bounce late February into early march when and if this drought hangs on. Durum on the other hand is a market that could be as unstable as it gets. I'm on the fringe area and reports from me west are terrible. Accually beyond terrible, so if any niche wheat moves I plan to see this one go this month, but how far all depends on how much more abuse hrsw gets. | |
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Spring wheat-days to zero?
