October 23, 2014

Wheat Commentary

Posted 10/22/14

Wheat finished higher today, supported by shorts liquidating and an increase in export business on the world markets. We are going to see exports tomorrow morning and if we can see wheat sales look better than what we have seen recently, this would suggest this rally is going to hold water. Right now with the rally in wheat holding on we are seeing some fund managers liquidate wheat shorts which is continuing to push prices higher forcing more shorts to liquidate and making this a self-fulfilling rally…

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    Allendale Advisory Contributor:

    Cordon Sroka

    Cordon Sroka

    Cordon started with Allendale in 2010 after graduating from the University of Wisconsin at Platteville with a degree in finance. His interest in the commodities was sparked after taking a class on technical analysis that focused on the futures markets.

     

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