john risk - wheat price direction?, page-89

Teetering on support, isn't it.

If 655 fails, we're looking at 620 then 560.

Could only see that happening if US crops improve significantly or if Ukraine completely abates.

With funds being net long atm i wouldn't rule-out a quick down thrust that allows them to reset their positions and then a rally back to the current price or above, as the US crop slowly makes its way to the bin and we discover it's simply not going to alter the stocks-to-use ratio in any significant way.