Predictions, Round One
Jul 17, 2010
Wheat: 640 basis December is a gimme. Consider hedging 10% or more of your crop. The next attractor will be 750, but that is still quite “iffy.”
Corn: 416 is a done deal. 450 basis December will be the next attractor, by which I mean prices will be drawn towards 450. That’s not the same as saying prices will get there. If prices get above 440, sell futures for most of your crop.
Beans: I’ll guess/predict 1050 will be reached for beans basis November, same price basis January.
Oats: 300 should be reached basis December.
Wild & Wooly technical price projections:
- Oats: 318
- Beans: 1092
- Corn: 484
- Wheat: 679
As the season progresses, we will see whether the wild & woolies are just that or become minimum prices reached.