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| When you say "Fundamentals have changed" can you elaborate? I am of the opinion that the long only funds are in themselves a "new" fundamental, meaning they are a factor to be weighed such as yield, seeded acres, weather, etc.............seems the ANALysts still dont see it that way though......................
Will be very interesting to see what basis does this week, so far endusers/overseas buyers have NOT been coming to the US to buy food grade wheat, is that about to change? When/if it does will basis gain and futures remain constant?
DURUM will also be interesting as it is purely a human food wheat,..............Canada is forecast to have HALF the crop as last year, old crop stocks are high though.............My County Loan Rate is $6.17 a bushel....................if I can get all my other cash wheat sold at higher levels I am contemplating putting all Durum under loan and sitting on it until after the first on the year anyway as that is when cash demand for it ususally fires up here.....sure could use some of that $24 Durum about now!!!!! | |
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Wheat Fronts gaining on deffereds
