The wheat market surged today on the resumption of Russia bombing Kiev. This could limit the advances being made for Ukraine exports from certain regions of the country. The market clearly will be susceptible to each issue from the black sea region. In addition, a port was destroyed in Ukraine limiting export prospects. It seems prudent to expect more problems on a regular basis. The corn followed along with Wheat today. The corn was due a relief rally given the recent approx 75 cent price drop. The domestic weather looks good for planting which may limit further upside. The market also believes that there will not be much in the way of acreage shifts. I believe through the corn belt this is accurate. I still leave fringe acres open for debate until we see.
Time will tell
BE WELL,
John J. Walsh
President, Walsh Trading, Inc.
800-993-5449
312-208-8836
[email protected]
www.walshtrading.com
Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (“WTI”) shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.