When it comes to long-term investing in the Grains sector, one can gain an advantage by knowing real supply and demand over the lemmings that follow USDA's imaginary estimates over a cliff.
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With this in mind, US SRW wheat is one of, if not the most bearish market in the commodities complex.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis. It's a toss up between corn and soybeans, though the latter is actually showing a bit more bullish long-term fundamentals.
The infamous BRACE Industry[i] is gearing up for one of its favorite days Monday with the release of USDA’s May World Agricultural Supply and Demand Estimates (WASDE) on the docket for noon (ET). This particular round of monthly nonsense has the added attraction of being billed as “The First Look at New-Crop Grain Supply and Demand Estimates!!!” (I don’t know if 3 exclamation marks do the hype surrounding this silliness justice, but it’s what I went with this time.)[ii] The humorous part of this is it’s actually the Fourth First Look at New-Crop Supply and Demand Estimates[iii], but that fact seems to fly under the radar.
