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Identifying and Trading Turnaround Points
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| By: Darrell Jobman (10/27/2009)
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Some feel the latest rallies the markets have seen are due to the U.S. economic recovery being stronger than some statistics suggest or they credit the still-unknown effects of an early frost and a late, cool, wet harvest season for the price rally in corn and soybeans. But wheat? Why did wheat futures climb 25 percent in the first few weeks of October? Reports suggest wheat supplies are plentiful around the world, and the winter wheat crop seems to have gotten sown in generally better conditions than in recent years to set up the potential for good yields for the 2010 crop. Yet, wheat prices have rallied with other commodities after falling below $4.40 a bushel in early October.
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