wheat has wiped away war premium and then some,,,talk of ukranian wheat coming to the market ..but also russia destroying ukranian fields..fundamentally id think its overdone to the downside!! hows the weather shaping up?
Lots of STUFF are going down. Gold, Silver, Oil, Wheat, Etc . . . This down move was engineered by the Fed and Goldman Sachs. They Knew months ago that GS was going to get short and then after GS got short the FED would cut the money supply and everything would go down. GS thinks they are good traders. What they are is thief's that steal and they will burn in Hell for an eternity. As far as answering your question. ALL LOWS will be in by August 9th.
I came up with this date cause the FED is meeting July 26/27 and since the FD is narcissistic They require the markets to behave themselves until there meeting is over, and then we get the Unem report for July on August 5th and then I am giving it two more days for turn-around Tuesday, which would bring us to August 8th. After that date there will be no more lows.
How about the weather over the weekend? Any indication of how grains will open tonight
coffeecloth,
I'm so sorry for missing this post.
I was out last evening, then spent most of my time with some insanely absurd political stuff on the NTR forum.
Great call on the wheat.
Wheat is not a very good weather market by itself at this time of year because the main Winter wheat crop has been harvested.
The MWE wheat in the N.Plains/Upper Midwest is still growing and important though.
Seasonally, I think does hit a bottom around here.
Crude is up strongly today. Usually when wheat is way up, it pulls corn up the most but beans are the leader today.
no worries met mike...i planned to buy some today .never got the chance
I did update information with regards to the real weather markets right now, corn and beans.
With regards to wheat, crude going higher, stuff going on in Europe, including the war and the extreme heat wave possibly damaging the crops is more important than US weather.
Crop ratings/conditions for July 18, 2022
Coffeeclotch. I do so think that we are seeing the lows in a lot of things, including wheat. The expenses are so high now, that producers don't have much of a choice. Crops being grown this year, are faced with inflationary costs of fuel and fertilizer, that is going to drive them into bankruptcy if prices fall anymore. We faced this back in the 70's, when so many farmers comitted suicide, based on the inability to afford replanting in the spring. Thanks to someone's energy policies, we will get to revisit this again. Weather is now only relavant to the hopefulness of the market. Not the farmer.
