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Buxton ND | Should we think back 1 year ? ? ? One year ago this past week KE put in a high after rallying nearing a buck on very poor crop condition. WINTER. Then this past spring,it was for sure DEAD with pictures,,,lot of pictures,,,KE rallied 2.04 MW brought up wheat and 2008,my chances are better elected President then 2008 type wheat market last spring. What we did was troublesomely price OUR SELF OUT of the wheat export market,,,prices have crashed along with the other grains til about one month.
SO 5 months in,wheat export still blank. That high price this spring messed up exports.....
Now wheat on a rally.
Think.
Dangle Da Carrot.
Deer "hunting time frame"
Hedge,UN-hedge,then re-hedge on my (Spring Wheat) planting carrot.
Deer hunting is near,I did the same as I usually do,sold some MWEZ15 @ 6.292 on a target order above the market. If I can get better the next 2 weeks I'll maybe do some more,at this price level in no hurry. If it trades lower I'll lift the hedge and re-hedge in May (spring planting carrot) as I usually do.
Last summer I commented a few times that the traders don't give a rats donkeys dam if the wheat in Kansas is 5 or 50 bps there's still plenty of wheat world wide................... The world raises a pile more wheat then it did in 2007 and with more acres it takes that much MORE weather troubles to effect this market. This statement could have also been made in the later 1970's.
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Southern WW freeze?
