As a farmer you have to deal with many variables that are out of your control. Harvest in North America is almost complete and now farmers are faced with dealing with the commodity markets. Most farmers are no doubt following the grain and oilseed markets on a daily basis but now it becomes more of a focus.
There are several market analysts discussing that wheat may be overvalued on a fundamental basis. When analysts look at ending stocks they are seeing a possibility of an inflated price. Is fund money the only reason prices are where they are? How did we move from ending stocks being so small to now we are flush with wheat in two years?
I stopped at the Canadian Wheat Board in Winnipeg and chatted with Bruce Burnett, Director of Weather and Market Analysis about his outlook for wheat and durum. Bruce answers all these questions and more.
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