East Central South Dakota | the supply, demand situation in wheat is no different then the July/August harvest when they where buying it out of field cheaper than now. You could make an argument because of the lack of shipments and selling because of freight logistics the situation is worse than harvest. The Dakotas, Montana and Canada is full of wheat. How many years worth in bins in just this area? Jeremy would say a few. This is why I have always believed markets behave on attitudes and the flow of money. It is also the reason when funds start buying I sell to soon, because fundamentally I think-----ggeeeezzz this is a good price based on fundamentals. Doesn't matter when it is cheeky to own commodities. It is hard to pick a fund buying high.
On the reverse fundamentals can also be why I am not selling when money flows reverse and are selling. I get stubborn and hang on way too long. Fundamentally I think ------gggeeezzz my grain is worth more than this. Doesn't matter when the train is leaving the buying station. It is hard to pick a fund selling low.
Always being picked last in PE class prepared me well for my marketing disappointments. |
Made first wheat sale for fall today...Wheat from here.
