john risk - wheat price direction?, page-18

Gday John

A bit of water under the bridge lately with the grains. Well into harvest and have a late cousin's crop to help market (really sad story). Would really appreciate your take on where you think wheat and soy could be heading short term. Many thanks in advance.

We are very keenly watching the Winnipeg Canola futures as well because our canola prices take a cue from them.
http://www.barchart.com/charts/futures/RSF14
5 year chart for CANOLA


And of course the dollar is having a big impact on the day to day volatility, sometimes magnifying overnight gains, sometimes magnifying overnight losses. Not sure if you have been charting this as well?

And you'll be interested to know that basis levels have help up extremely well despite the large WA crop. China still aggressively buying it seems. We are like a back paddock for them when their own crop is down.

Cheers
YC

PS - Not sure if I mentioned but a good website to keep an eye on for agriculturally unbiased news is www.agrimoney.com.