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USA | 1) Southern Hemisphere wheat problems. End users do not have the cushion they were hoping for.
2) Jul 08 seems to want to keep up with old crop wheat.
3)Old crop wheat has not seen it's highs.
4) Farmers don't have much old or new crop SRW left to sell. In talking to people and from what I have read, a big chunk of 08 crop SRW has been sold in the $4 to $6 range.
5) Prices are going to need to stay high enough to get the folks in the SH to plant a monster acreage of wheat.
6) The big money folks have got control of the wheat market and the easiest group to to squeeze are those who are short.
Edited by coup 12/9/2007 12:29
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08 wheat is going to take off now
