Thursday was a wild day in the wheat trade based on a confusing report out which seemed to indicate Ukraine was going to restrict exports of milling wheat. Bloomberg ran the story and the market — already in rally mode due to weather concerns in Europe — burst more than 25 cents higher based on the confusion (and then later retreated.)
Commodity analysts on Twitter attempted to make sense of the yo-yo pricing action that transpired.
And that’s what happens when a headline doesn’t quite reflect the actual story…. pic.twitter.com/IANhkZOjK4
— Karen Braun (@kannbwx) August 2, 2018
Once you peel back the serious analysis on a volatile day like today, a little humour can help settle the nerves (along with a stiff glass of scotch.) Here is a collection of some of the best market tweets from the day:
— Top Third Ag?? (@TopThird) August 2, 2018
Live look at a local wheat trader pic.twitter.com/1zYvx2NgzO
— Oliver – BL Futures (@OliverSloup) August 2, 2018
welcome to wheat trading! pic.twitter.com/HhNBUxJm07
— FF (@FatF1nger) August 2, 2018
Sums up wheat today pic.twitter.com/94Owm9W3bL
— Mike ODea (@WheatTraderFCSt) August 2, 2018
come for the analysis
stay for the gifs on crazy trading days
— matt campbell (@mattc_fcs) August 2, 2018
After trading as high as US$6.35/bu, Minneapolis wheat for September ended the day on Thursday up only 2 1/2 cents at US$6.10 1/2.