Wheaties!!

Wheat has been soft as producers and elevators have made space for fall crop.. one outfit moved their inventory out to pit bunkers (kid you not..) now that it's socked away.. gonna take some movement to pull it back out.. Furthermore the transportation infrastracture will be tied up moving the fall crop.  So SEASONALLY in the local cash market we USUALLY get a good pop starting about now...  (we'll see..)

KC usually trades at a premium to the Softs.. this year's short Soft crop has made that spread narrow..  Not sure if that comes out now.. but see good support for the Wheaties now.. Golly we are dry here.. the drought monitor is growing.. not that I WANT to see that.. but.. it is what it is..

Some guys have already started sowing.. some is up.. some is spotty on emergence.. and yes there's time for moisture to get the rest of it up.. Everyone remembers that big Freeze event that came Early in November though.. cooked a lot of small wheaties that night.. so.. Weather premium to put it in seems justified to moi..

Sat the REAL can't go down forever.. still time to cross over from the crowded side of the boat.. "don't daddle..."  When we start to come up off the bottom.. well last year we added $1.80 pretty quick...

Cheers.