The wheat market has been battered and bruised. As these markets typically
do, they rise too fast and the rally might carry much further than fundamentals
would suggest it needs to. The same is true for breaks, and one such break is
that of the U.S. wheat futures markets. Chicago spot wheat futures have fallen
for nine consecutive weeks despite some positive fundamental support factors.
There are some reasons to believe that the extreme break may be close to having
run its course.
@^Technically Speaking
Variable weather conditions are improving soil moisture while allowing for
fieldwork to progress quickly.
BSouth America Calling
Ag reality TV farmer Steve A. McBee and his sons settled a federal lawsuit
over alleged asset transfers, agreeing to repay $3.16 million in the next 10
months.
BSteve McBee Owes $4 Million in Deal
A North Dakota judge struck down the state beef commission's exclusive
nomination system, ruling that favored cattle groups were granted
unconstitutional privileges.
1^Court Strikes ND Beef Board Process
Corn was 60% harvested, and the remaining crop was rated 56% in
good-to-excellent condition as of Sunday, Oct. 25. Soybeans were 79% harvested.
BUSDA Weekly Crop Progress Report
