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“Calling the top of the KC wheat market two weeks ago”

by Jim Roemer - Meteorologist - Commodity Trading Advisor - Principal, Best Weather Inc. & Climate Predict - Publisher, Weather Wealth Newsletter 

• Monday Report - October 28, 2024

Below, is an excerpt from this week's recent WeatherWealth newsletter

Two weeks ago, right at the top of the wheat market, I advised taking profits in the long July KC wheat leg, which was part of a corn vs. wheat spread. 

The reasons wheat prices are tanking again are:

• Rains coming to key Plains wheat areas and excellent U.S. planting conditions
• The stronger dollar is hurting some commodities. Wheat is one of them.
• A potential big Australian crop
• A slight increase in rains for drought-stricken Russia, even though 2024 and possibly 2025 production has come down
• The seasonal bearish factors below

Weather Spiders, long-range forecasts, and trading strategies for investors, farmers, and agribusinesses:  Request and sign up for a free 2-week trial period here  > > >   https://www.bestweatherinc.com/new-membership-options/    (only if you have not had one already)

Thanks for your interest in commodity weather!

Jim Roemer, Scott Mathews, and The Weather Wealth Team 

Mr. Roemer owns Best Weather Inc., offering weather-related blogs for commodity traders and farmers. He also is a co-founder of Climate Predict, a detailed long-range global weather forecast tool. As one of the first meteorologists to become an NFA registered Commodity Trading Advisor, he has worked with major hedge funds, Midwest farmers, and individual traders for over 35 years. With a special emphasis on interpreting market psychology, coupled with his short and long-term trend forecasting in grains, softs, and the energy markets, he established a unique standing among advisors in the commodity risk management industry.