Holding Serve

It's all about timing! Is it time for wheat to rally? Maybe not yet, it's not the time for it to break. If that time comes it will have to be later in the growing season, April and May, if and when we are comfortable with acres and the condition of the crop. Spreads have been grinding in and the running moving average is both Chicago and Kansas City suggests that storage charges will be lessened late in February.

Corn and beans still need to contend with South American hedgfe pressure. Mother Nature may have trimmed crop size with the weather the past few weeks but, there's a lot to hit the market in the coming weeks.

Hate to say it but a lot of our price action/direction may still be determined by the powers that be in DC, New York, London, Paris, Brussels and other power centers in the world. Surviving another day of the partial government shutdown/shakedown. No one knows all the surprises that may occur!

The information contained on this site is the opinion of the writer and obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices.

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Steve Bruce

Walsh Trading
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