From DTN: USDA projecting U.S. wheat ending stocks at 1.001 bb was like a judge handing down a sentence of life plus one year. If realized, this would be the largest U.S. stocks figure at the end of a marketing year since the 1.261 bb recorded in 1987-1988. And if that fact isn't bearish enough, consider that the 1.001 bb coupled with total demand of only 1.987 bb puts ending stocks-to-use (ending stocks divided by total demand) at a colossal 50.4 percent.
1) ZR?......rice? All of the grains are bearish. They can all revert to historical norms, i.e. $6 beans, $2 corn, $3 wheat, $7 rice, $1.50 oats. 2) There can be a mentality of planting as much grain as possible because prices are expected to drop and there is no USDA/government money for set-aside programs. 3) Mild weather in the Spring will help the bears too. We'll see how it plays out.
1) nazzdack 2) I like the way you often number your posts 3) Makes your points come across real conscise 4) Price action in Wheat looks like a little bounce may happen, we"ll see 5) Im still bearish on grains in general 6) Thats about all I have to contribute to this thread
1) I'm copying his method 2) I usually have too much bullshit to talk about 3) making them easier to read will allow the shit go down easier 4) this is quite enjoyable 5) thanks nazzzdack for the technique