Posted 4/6/2021 06:51 (#8935998 - in reply to #8935789) Subject: RE: Spring wheat where's the market incentive?
Well latest gfs run has essentially 0 rain thru April 22nd.
Our dew point was 10 yesterday. That’s as low as I’ve ever seen. Buying the board looks like the lowest risk way to have exposure to being a wheat farmer this year. Wheat going to go to 550 futures while corn futures and soybean futures sit at 10 year highs and there is a drought in wheat country? Not impossible but the risk associated with owning the paper is less than growing it all things considered at this stage.