What a week it has been in wheat. It isn’t often the market known as Poverty Grass – for both those who produce it and those who try to trade it – takes the spotlight in the Grains sector, but that’s what we saw this past week. After I wrote my thoughts on the new generation of “trader” being introduced to wheat, and natural gas, via predictive market websites like Kalshi a couple weeks ago, and followed that piece with a discussion on wheat as a good long-term investment last week, I’ve had the opportunity to talk wheat with Michele Steele in a StocktwitsTV interview and Michelle Rook on Thursday’s Markets Now. For someone who grew up on a small wheat farm in south-central Kansas, and spent the early part of his career trading to merchandise the Cockroach of Grains (another nickname for wheat), it’s always fun to return to my roots. It reminded me of when I used to appear on the Iowa Public Television program Market to Market, and the hosts – first Mark Pearson, then my friends Mike Pearson and Delaney Howell – would start our conversations by saying something to the effect of, “Darin, since you are a wheat guy, let’s start there…”.
As we head into Friday’s session, what has changed with the wheat sub-sector, particularly the hard red winter and soft red winter markets?
