Loading ...corn and wheat have two different scenarios. The corn crop is just being planted and the weather is already in play. Corn has more on farm storage than any other grain so the farmers are waiting for the feed market or ethanol market for old crop.
The wheat market breaks down down three ways; hard red winter ( includes spring hard wheat), soft wheat and durum wheat. The durum wheat is also known as Minneapolis wheat. The durum wheat is in competition with soybeans and corn for acres planted. Beans and corn have squeezed the acreage for durum wheat so it has run much higher than Chicago or KC wheat. Harvest is over for KCwheat so the lows may be in place.
Be aware that markets tend to change direction or accelerate just before or after a major holiday. Those that have been in a multi month advance or decline are subject to a reversal. Those with a recent reversal may accelerate sharply.
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