Is Spring Wheat Breaking Out for Highs?

The entire wheat complex has been struggling to find any footing lately. Export sales are being hampered by cheaper and readily available Russian wheat, which too, has now risen from the cheapest wheat in the world. However, sometimes money flow overrides the fundamentals of a markets.

The Minneapolis wheat is the one that caught my attention as it appears to be in the very early stages of a breakout to the upside. Rallying over 20 cents since mid-March, Minneapolis has been trading a healthy premium to Kansas City wheat, and for this time of year, is now at a 10-year high and often finds resistance in..

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--- Brian