Market perspective

This past week wheat markets experienced a bit of a rally from their recent lows. Winter wheat harvest moved past the halfway mark and now stands at about 70% complete nationwide. More times than not that signals a rally in the wheat market. This year is no exception; the question is how high. Fundamentally, support also came from good recent export sales, particularly from China. I do not think it was a coincidence that China came when they did. They also know when the seasonal lows of a market typically occur. They might be communists but they understand free market trading very well. So far...