Wheat Rally Stalls - 6.30 - Louise Gartner
Wheat markets look like they're finally giving in to harvest pressure - after weeks of managing to rally during the early stages of harvest. Of course, corn was the leader higher with wheat following closely behind; but now corn is faltering with the weather improving (for most areas) and the acreage report this morning showing corn planted acres above average expectations and quarterly stocks also above expectations. Without the pillar of support from corn, wheat is free to fall, and it could indeed go into a freefall. more