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| I am very troubled by the action in old crop wheat; however, it is complicated by the FUNDS buying new crop & either new selling in the old crop or liquidating old crop futures & the spread traders buying corn & selling wheat. It is pure speculation. We know the suppy situation is very tight. I do not want to be short old crop, even though the market acts bad as it could turn around on a dime since most of the new sellers are not in a position to provide actual wheat. Any surprise could send the old crop to new highs, but based purely on how the market acts, I would have to say the probability is the top is in on old crop. | |
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The Big Risk -Questions
