March 28, 2015

Wheat Commentary

Posted 03/27/2015

Wheat finished higher. We saw general short covering today and technical buying after the past two sessions broke this market down below recent uptrend. Positioning heading into Tuesday’s acres and stocks report did see some shorts exit the market as we are down 22 ¼ on the week. Heading into today we were 30 ¾ lower but todays recovery did save some face as to the recent slide. Trade started the week on a lower note and continued to move lower until today.

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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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