🔥 Big Picture: Risk-Off Money Rotation
Broad market liquidation underway:
Gold down $147
Silver down $7.72
Dow down 600+ points
Bitcoin down $2,255
Crude oil down $1.90
When funds lose money in long positions (stocks/metals), they often:
Exit short grain positions
Buy back wheat & beans
Result: Strong grain rally led by wheat
🌾 Wheat Market: Short Covering + Bull Spreads
Kansas City Wheat (Winter Wheat)
March: Up 16¢ to 554 ½ — highest since November
May: Up 14¢ to 565 ¾
Front months stronger than deferreds = Bull spreading (friendly structure)
Chicago Wheat
March: Up 14 ½¢ to 551 ¾
May: Up 12 ¼¢ to 557 ½
Minneapolis Wheat
March: Up 7 ¼¢ to 577 ½
May: Up 7 ¾¢ to 589 ¾
September: Up 8 ½¢ to 620
👉 Funds aggressively covering shorts as outside markets tumble.
🌱 Soybeans: China Truce Headlines Fuel Rally
Key News
Chinese Morning Times reports:
1-year tariff truce agreed
President Trump to visit China March 31
