$500/t APW by Nov!!!?
My clients would love to hear you say that. I'd actually bet on us being closer to $250-300 around harvest if we have an average yielding season. If it's a severe El Nino year then who knows but i think $500/t is a massive stretch. I think we saw $420/t in 2008 and that was with a horrible year in the nth hem and Russia imposing an embargo on their massive wheat exports. The AUD was about 20c higher then but that's only worth $3-4/t.
Looks more like a technical based rally to me, likely some funds getting together and pushing it through resistance to get a covering rally. Will be interesting to see the Committment of Traders report next week for non-commercial entities.
- Forums
- Commodities
- How low can wheat go?
How low can wheat go?, page-98
-
- There are more pages in this discussion • 118 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online