Wheat on the side while riding goldHey, I've been looking at grains a bit and I think wheat could be going down.
On a pullback there is a good r to r.
It is on a global downtrend and it convincingly broke to new lows on the lower TF.
It sort of always goes down around this period
Global trade & weather have a big impact I guess.
Here you can see the past weather: www.timeanddate.com
Here are averages: www.holiday-weather.com
Chicago is in the averages. Most places are below, France has had a freezing summer brrr.
The weather data is obviously run by climate deniers.
The CME website: www.cmegroup.com
The biggest producers of wheat are the same old same old... China USA India Europe South-South-America. And to a lesser extent pretty much everywhere except Africa.
Some of the top biggest exporters are Russia Canada the USA France Argentina Ukraine...
Argentina I think is the biggest net exporter there is in % of what they produce. India is self sufficient, China is barely I think.
I could list all the net exporters but it's easy to remember. It's the white countries.
Basically the most important weathers I think are NA & Europe.
And China news/catastrophic crop ==> boom.
Probably will trend down, hopefully without too much choppy pullbacks.
Would be nice to look at something other than gold here and there.
