From the CME website this morning:
"tightness is expected to persist with the USDA pushing ending stocks to a 60-year low".
U.S. grain stocks are at60-year lows! Note since World War II has grain in storage been so low in the United States! I hope you have some grain in storage, or you may soon not be able to eat! That sounds very bullish for wheat prices long-term.
On the other hand, the CME website also conveys a somewhat bearish sentiment for soybeans. Of course, as it says in Mark Douglas' book, "Trading in the Zone", one of the five fundamental truths of trading is that "anything can happen".
