Now with Wheat back down under $6 in the Sep can we call the rally officially dead? I've heard some other rumblings about wheat going sky high soon? any thoughts?
1) Wheat....."in the teens"? 2) Wheat seems to make a decently, well-defined, seasonal bottom in August. Wait until then before getting too excited about the long-side of the market.
There is a thread in the ag forums with some articles about a wheat disease (ug99 I believe) wheat would catch a hell of a bid if that happened obviously. Picked up some coin on oat:corn today, corn should see more weakness throughout the summer.
Diseased crops tend to be bearish because nobody wants to get caught "long" with the "tainted commodity".