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Red River Valley | I have no Idea I can lay out a program that say's wheat is over priced tonight ( as it goes higher) things I'm looking at is 1) spreads are narrowing 2) acres are being bought ( im a seller are you) 3 the US still can't win a tender on the International market 4) the Us has a 1.1 bb carryover that is at this point IMHO getting larger and with all of that said emotion still rules.
how high I think that we will know when it happens but I think getting something sold at that point will be tuff ???
I know the wheat market can not let an Inversion happen it will get burried in wheat ( to much product ) the Inversion will not happen in the sept. - dec. ( the commercial are making to much money to let the Index funds out without paying a roll price) if Dec. - March invert I'm a seller with both hands (spec)
As of tonight trains of margianl protien wheat ( 12% or lower ) can be loaded out of MGEX and deliverd to CBOT at a very good profit, it will or is happening a lot of things happen in wheat between clases that signal an end but to go higher DNS ( spring wheat) has to lead ( quality) shows the way and as of right now CBOT is at a premium.
In time we I think are at an end game in price 4 days can mean 6.00
good luck I will sell some wheat every day while it goes up I would love to raise nothing but wheat in 2012 | |
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A little example of how selling carry works
