Wheat is so undervalued... for instance DTN is reporting this morning that Paris Milling is $50 a metric ton,, that's $1.36 a bushel HIGHER than US KC HRW.

Furthermore, we expect that 2019 acreage will be LOWER.. the Lowest in over a CENTURY.. than last year's low acreage due to inclement planting conditions.. and futures are about a DOLLAR lower than earlier highs when the outlook was for higher stocks.

We don't have an updated commitment of traders report but the last one showed the funds short about 25,000 contracts or 125 million bushels.

Wheat has VALUE here as most stocks are already hedged up. 

I was shown a bid 60 over the posted bid for 12s yesterday..