14 May 2015

Posted on by
  • Perhaps today’s biggest surprise has been the surge in CBOT grains, led by wheat. As the market topped last week’s high triggers were touched spurring further buying particularly by funds. With much of Europe on holiday sellers were limited and the inevitable run higher (which we have warned of previously) happened. 50 day moving averages were breached and this triggered yet more buying, however, fundamentals have not changed and at this time we continue to see this run higher as a selling opportunity.