Wheat was limit down
Limit (75.00) down 8.02% to 859.75.
Soybeans not quite as brutal
Down 4.28% at 1583.25.
There's an outside shot beans could see $25.00 this year, depending on whether the farmers plant soybeans or corn. The supercomputers are whirring away, inputting variables and spitting out profitability estimates as I type. Not kidding.
Ag Commodities: Wheat Hits Life-of-Contract Highs (Limit up)
The all time high was in March 2008 at 13.2825. The futures opened that year at 9.36 and ended that year at 6.30 down 31%. Just a heads up that planning to fade the run may be safer than chasing. Unless of course you have bread that's gotta be baked now. And next week. And...here's the last three month's action via FinViz:
*****
Soybeans, which have had a more stately ascent...
have a better chance of holding recent gains and even trading considerably higher as we get into the end-of-March intentions report.
have a better chance of holding recent gains and even trading considerably higher as we get into the end-of-March intentions report.
