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Nw Iowa | I know there is always a lot of BS but Market Rally had a guy on today really scared how far wheat could go yet. Just too many production areas with black swan events, and a lot of northern wheat barely planted, Ukraine, now India and few other places so normal sellers not really selling because of so much uncertainty. His other concern which I have been worried about in all grains is the margin calls a large elevator that hedges a lot of wheat has. He said credit lines were gotten eaten up fast and really nervous how some of some will survive. Basically his thoughts were this s not a normal market or even normal bull market. That said the most bullish news is usually at the top so take it all for what it is worth. | |
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