Is Wheat a Good Buy or a Good Bye?

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The investment community has been bearish Chicago (SRW) wheat for almost a year, indicated by the large noncommercial net-short futures position reported by the CFTC.Fundamentally there is good reason for this bearishness given futures spreads and monthly available stocks-to-use calculations.But trends change, and the SRW market(s) could be nearing long-term turning points despite counted bearish fundamental reads.I have a few reasons for posting this piece early today, other than procrastination as it should’ve gone up Tuesday. First, it is Wednesday, and what better time to talk about wheat …

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