Sep 07, 2018 03:43 PM
Whether it’s a joke, a rain dance or trading the wheat market, timing is everything. For the joke, if the timing is off the result is either mean or unfunny. For wheat, well, there is an old axiom that says, “trade wheat, sleep in the street”. USDA is calling for world wheat stocks to decline in 2019, and for the global stocks/use ratio to be the tightest this century. With that setup, you’d expect US wheat exports to be up and prices to be higher. The folks at WASDE certainly think so.