EU Wheat Closing Comments
May London wheat ended GBP2.35 higher at GBP101.60/tonne, with May Paris wheat up EUR2.00 at EUR131.50/tonne.
Blimey!
It seems like a long time since we last didn't start London wheat with a nine doesn't it? "I'll have three from the top, two from the middle and a nine to begin with from the bottom please Carole." Wasn't that how it used to go?
It seems that despite the weight of "burdensome world stocks" nothing can go down forever, even Ms Voorderman.
With the overwhelming weight of bearish news seemingly already out in the market, how much worse can things get?
I suspect that some may have got themselves carried away with their own invincibility, maybe there are a few more heavy shorts out there than the market has realised. For sure, selling the market short has been a cert way to profits until now.
For sure, everybody KNOWS that the market is gong lower don't they? So make the export sales and cover them in at lower money when the time comes.
Except what if there are no sellers then? What if you have the boats lined up and no physical sellers? Erm, well maybe nobody thought of that, it was just too unlikely a scenario.
Just suppose that more or less every compounder in the country didn't bother to buy May/July wheat because it was so blindingly obvious to Stevie Wonder that the market was coming lower?
And just also suppose that almost every sensible farmer in the country already had all of his old crop wheat sold because it was painstakingly obvious that carrying it until the summer was clearly stupid because everybody told him so?
Just wonderin' like.
Blimey!
It seems like a long time since we last didn't start London wheat with a nine doesn't it? "I'll have three from the top, two from the middle and a nine to begin with from the bottom please Carole." Wasn't that how it used to go?
It seems that despite the weight of "burdensome world stocks" nothing can go down forever, even Ms Voorderman.
With the overwhelming weight of bearish news seemingly already out in the market, how much worse can things get?
I suspect that some may have got themselves carried away with their own invincibility, maybe there are a few more heavy shorts out there than the market has realised. For sure, selling the market short has been a cert way to profits until now.
For sure, everybody KNOWS that the market is gong lower don't they? So make the export sales and cover them in at lower money when the time comes.
Except what if there are no sellers then? What if you have the boats lined up and no physical sellers? Erm, well maybe nobody thought of that, it was just too unlikely a scenario.
Just suppose that more or less every compounder in the country didn't bother to buy May/July wheat because it was so blindingly obvious to Stevie Wonder that the market was coming lower?
And just also suppose that almost every sensible farmer in the country already had all of his old crop wheat sold because it was painstakingly obvious that carrying it until the summer was clearly stupid because everybody told him so?
Just wonderin' like.