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NCND | I’ve been short some 10$ calls for quite some time. Would buy futures on and off against them. I had order in yesterday to cover them at 25 that didn’t fill. Sold them for a buck. What pisses me off is I had orders in to sell 13$ calls for a buck and I chickened out.
Maybe we will bottom at open on Tuesday just like we topped on the open 7/5/17. I think the wheat crop is going to be pretty decent unless weather really changes. Looks like big drink for all ND and Canada next week.
Just don’t forget wheat has spent next to zero time over 10$ in last decade. Post ukraine invasion wheat still traded low 9s so who knows.
Canola went from 39$ right before we got any planted to 29$ today. That sucks too. You have too look for soybean fields around here as the canola seems to have taken their place 100%. If everyone is worried about usda resurveyed finding a bunch of soybeans they will be sorely mistaken. Northern 1/2 of ND going to turn yellow in next 10 days from all the blooming canola. | |
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Spring wheat
