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North Central Kansas | Funny how that is. Kind of like 2010. Extreme heat and fires were occurring in Russia. The extreme heat was so bad that Russians were drowning in the rivers trying to cool off. Grain merchandisers here were trying to buy all the wheat they could. Telling farmers that wheat was not going anywhere. Too much wheat in the world better sell your wheat at harvest before it goes down. Many took this advice and unloaded their wheat. End of June as harvest wheat was in the mid to high $4 range. By August it was mid $7's. These grain companies have people on the ground in all of the major grain growing regions of the world monitoring the crops. They knew what was coming. I called one of the merchandisers I worked with at the time and specifically asked him about the news coming our of Russian and he said nothing to see here. After that I quit believing anything a merchandiser told me. | |
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Wheat Wow...
