Todd's Take
Todd Hultman DTN Grains Analyst
Tue Mar 24, 2015 07:06 AM CDT

No matter how you look at it, the past two years have been a long, bearish slide for wheat prices. Earlier this month, it was difficult to make a bullish argument other than to say prices were so cheap that commercials were accumulating futures contracts.

Winter crops in the Northern Hemisphere were still dormant and U.S. exports were down 27% from a year ago, hurt by plentiful world supplies and a rising U.S. dollar. On March 5, May Chicago wheat fell to a new contract low as the U.S. dollar pushed to new highs. Money managers, already net short nearly ...

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