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Article: Wheat.(Analysis)
- Article from:
- Pro Farmer
- Article date:
- October 24, 2009
CopyrightCOPYRIGHT 2009 Farm Journal Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Position Monitor
'09 crop '10 crop
Cash-only: 65%0%
Hedgers (cash sales): 65%0%
Futures/Options0%0%
GAME PLAN: Wheat futures are rallying despite bearish fundamentals. Stay in touch to advance 2009-crop sales and make initial 2010-crop sales on signs the rally is over.
Fundamental analysis
SRW: Wheat futures continue to defy logic as they are rallying in the face of heavy domestic and global supplies. Strong fund value buying has been the catalyst on the price recovery. If that speculative buying dries up, it could be a very quick price drop as futures ...