Back to that support line at 675ish John. Would prefer support hold at this point but what we want and what we get ... I am finding your charts very useful thankyou. Nice to have a bit of guidance on how badly your child will misbehave :)
There is an old saying 'big crops get bigger' and that is certainly going to be the case in WA this year. Early barley crops folk were expecting 3-3.5t/ha are going 4.5-5t/ha! Yields are surprising to the upside sometimes significantly so cash prices should be met with solid demand in the coming weeks and months. Possibly enough to be mildly bearish Chicago? It marchs to the Bloomberg/Reuters beat.
