Wheat has plunged in price over the past few months from a price of over $12.72 per bushel to a recent bottom of around $7.76 per bushel, a 39% drop in price. Now, it appears from this daily chart that wheat has bottomed and is beginning to move higher again. It seems odd that although wheat, livestock, and other commodity prices have fallen in recent months, the pundits don't mention this.Thursday, May 8, 2008
Wheat Appears to Bottom
Wheat has plunged in price over the past few months from a price of over $12.72 per bushel to a recent bottom of around $7.76 per bushel, a 39% drop in price. Now, it appears from this daily chart that wheat has bottomed and is beginning to move higher again. It seems odd that although wheat, livestock, and other commodity prices have fallen in recent months, the pundits don't mention this.
