Yeah my meal put is still moving...kinda wish I held. But I got short wheat yesterday, and today we're down another 6 cents. Think we'll head to the 305 area.
I went long wheat early today. I would be careful about being short right now. Grain production worldwide has been in a deficit the last few years this has not happened for a very long time. The freeze in Russia and Ukraine is going to impact wheat supplies. The weather is still dry in texas, oklahoma, and kansas. There isn't any forecast for rain the next 20 days. If you are also short you are going to have to worry about long only funds buying wheat no matter what the fundamentals are like deutsche bank has been doing. Fund money wants to get into commodities and agriculture(grains) is the only thing that has not run up.