|
Oklahoma | I am thinking that there is not much upside to this wheat market currently. This has been a nice run up but with all the talk of surplus supplies of wheat before harvest and now after a good portion has been cut with a 2+ billion bushel crop with 1 BB in storage, I'm not sure how much further it can go up. It just seems that there is a lot more downside risk at the current price levels than upside. Local cash price now is $4.28 and I don't really see how it could break $4.50. However I never would have seen this $1 rally coming either. Thinking of bailing out on Mon. I am curious what others think of where we are at now.
| |
|
Upside to wheat.
