Geez john risk, don't go talking fundamentals on the grains complex. I might start to think you've gone off the charts
There'll be a bounce at some point and we're only ever a mild nth hem drought away from high prices here in Oz.
Depends what instrument you're using an what physical it's over though.
Right now, the most obvious play is short Aussie basis against CBOT. Unfortunately for most individual traders, that's hard to achieve as you can't own physical off the grower so need to use the relatively illiquid ASX wheat contract. Still not a bad play right now imo, even if you lose a few pips on entry/exit.
