July KC Wheat Chart

Wheat prices have been hit extremely hard over the last 4 days, down 90 cents in just 4 days. Wheat prices rallied nearly $1 in 4 days in late April, chopped around, and now has fallen nearly $1 in 4 days. This is just evidence of the extreme volatility that we’re not only seeing now but we should expect more of volatility in the weeks and months to come. The hug drop in wheat prices has the technical indicators collapsing. There is no sign of bottoming action at least not yet. But when wheat prices have fallen 90 cents in just 40 days, we’re no longer interested in making sales. We’ll actually be looking for a place to re-own some bushels if the market shows signs of bottoming.