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Buxton ND | Yes its bone dry in much of the winter areas,but you have to remember that RMA fall price,,,, so its a pretty fair bet a chit pile got planted to start with dry or not.....Over the years many traders have been burnt on trading winter wheat's 9 lives......I think its gotten to be more show me the numbers first.....Add the very slow pace of exports 6 months into the market years and with half the year gone we need some good exports to get caught up or USDA will need to cut exports on wheat.....The world price of wheat encouraging acres,,,think back to how quickly things changed in 2008 when the experts said it would take a few years to rebuilt wheat stocks,,, the bins burst by that fall...... And probably the biggest thing of all,,,wheat traded $10ish,,, for 2 reasons,,, the drought,,, and spec money flow. So did the market place encourage acres when wheat stocks say we really don't need any extra acres ? ? ? | |
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plains wheat production
