What’s everybody’s view on commodity prices at the moment? Specifically wheat it feels like it’s undervalued presently. Barley yields are high so this could fall in value maybe due to demand?
The first ship has left the Ukraine loaded with wheat and whilst it’s probably going to Africa the 30 million tonnes to come out could push markets down further?
But then the USA has had a poor harvest and Canada looks like it won’t fair very well, yet Australia is in for a record breaking harvest due to all the rain they’ve had?
I’ve got one trader I deal with saying we should be selling a percentage of harvest 23 because he thinks prices will come down and another trader telling me the market is undervalued.
The first ship has left the Ukraine loaded with wheat and whilst it’s probably going to Africa the 30 million tonnes to come out could push markets down further?
But then the USA has had a poor harvest and Canada looks like it won’t fair very well, yet Australia is in for a record breaking harvest due to all the rain they’ve had?
I’ve got one trader I deal with saying we should be selling a percentage of harvest 23 because he thinks prices will come down and another trader telling me the market is undervalued.