The U.S. may be awash in wheat, but the world crop is shrinking, points out Jerry Gulke of the Gulke Group. “USDA lowered the world crop about 7 million metric tons because of the poor prices and now there are crop problems in Ukraine and Russia and Canada.
“We’re well over $5 in September wheat now and you can pick up a huge carry in the market by putting that crop in the bin and selling it for six months or 12 months out if you have the capability of doing that,” he says.
“So there are a lot of ways to make money in these markets and they are giving us opportunities.
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