RURAL REFLECTIONS Fit to Fight
I just got done watching an installment on a television morning show. The title of the piece was Unfit to Fight. It told how a high percentage of America's population does not fit into the mil... Posted on 3/11/12 at 5:59 AM
Wheat started the short Thanksgiving week with small gains, but gave back all of those gains and then some on Nov. 26. By Nov. 27, wheat was able to recover and trade with gains in winter wheat exchanges, but Minneapolis remained under pressure from first notice day. For the week ending Nov. 27, December Minneapolis dropped 9 cents, December Chicago gained 1.75 cents and December Kansas City picked up 11.25 cents.
In contrast to the North American harvest, with its fabulous yields and quality, the southern hemisphere wheat harvest, under way now, isn’t so good. Earlier Australian frost is showing up in quality damage.
Wheat contracts fell throughout last week to end with small losses. For the week ending Nov. 14, December Minneapolis fell 8 cents, December Chicago was down 5 cents, and December Kansas City fell 5.5 cents.
Two weeks ago, we thought soybeans were in a bear market. Chicago Board of Trade futures had fallen from $14 in mid-September to $12.55 in early November, but the recent U.S. Department of Agriculture report showed current stocks are not, in fact, all that onerous.
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