Wheat Solid close on Friday for December wheat and with oscillators still pointed higher, bulls should remain in control of the ball. The real challenge will be to see if they can take this contract through the 6.15 level on a close, but I am not holding my breath for…
Commentary
Daily Comments
Technical Comment Only Wheat Relatively featureless trade in December wheat on Thursday, never moving outside the previous day’s range. Regardless, oscillators are pointing higher, and stochastics are finally climbing out of the oversold zone, so bulls should have the advantage. For now, look for good resistance at 5.99/6.00 and again…
Daily Comments
Wheat sales experienced a nice bounce last week, coming in 18% higher than the previous week and 20% above the 4-week average. This amounted to a net of 437,900 MT or 16 million bushels. Mexico was the top purchaser with 112.8k MT, followed by Thailand, taking 58k, and Japan with…
Daily Comments
Outside of a corn production figure that was a smidge higher than trade expectations yesterday, there was not anything demonstrably negative in the numbers released by the USDA yesterday, but when you need something to rally the troops, so to speak, when not delivered, it just comes as a letdown. …