Very Difficult Grains Trading Today

All the grains are trading with minimal volatility today. Corn is stagnant! But circumstances could change at any time. Just from looking at my charts, liquidity look a bit scant, too.

Regarding Wheat Plunge Yesterday

A broker friend sent me a lengthy explanation of what was going on in the wheat markets yesterday. It is interesting, but obviously, no longer of any use. These are just short excerpts:

"Trapped short position holders are exacerbating a furious rally in Minneapolis Grain Exchange spring wheat futures, and the market will fall hard once the shorts are able to escape, analysts said."

"...wheat futures have hit the daily price limit in a series of recent
sessions, with the March contract closing limit up for the past six days. The market's dramatic ascent has exceeded expectations and caught shorts, or holders of sold positions, in a raging bull market, analysts said."

"Once MGE wheat hits a peak and the shorts are able to escape from the market, "the ride south will then be almost as steep as the ride north," the technical analyst said."

There was much more, but we all get the gist of it.