DislikedThanks for those articles, a good read but my thoughts are still the same. I definitely see it as a speculator led move. I understand supply and demand and how they affect commodity prices but I think this is a massive overreaction to what is, essentially, quite a minor dip in supply.Ignored
I have to admit, it's not JUST a speculator move. I mean, there is a certain amount of destruction of the world's wheat crops. Is it a massive overreaction? You bet your ass it is. But that's the nature of these type of moves.
Don't believe me? How about oil at $147 a barrel? Look what happened there. Or any time grains have risen like this in the past.....always the same outcome. Oil pushed corn higher, remember ethanol? lol
The thing is we are trading crowd psychology by watching the charts. This is just an extreme case is all.
I am very interested in shorting wheat - when I get a really nice weekly set up. But that time is not now.