wheat, page-4

Gann,
I would suggest that wheat ultimately correlates with oil, although there is about a six months time lag.
Wheat is effectively energy...

"An MIT press report suggests that the cumulative energy that goes into production and distribution of wheat (3.1 – 4.9 million joules/kg), corn (1.99 – 2.66 MJ/kg), and soyabean (1.98 -2.04 MJ/kg) suggests that wheat is an energy-intensive crop".

North American wheat farmers are not charity houses.
Only one way for wheat prices from here in the longer term.


http://economictimes.indiatimes.com/Opinion/Guest_Writer/The_untold_story_of_wheat/rssarticleshow/2530086.cms

Here's hoping...
Robo