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Not good for either - wheat farmers must have already sold stock at fixed old prices where as investment bankers are spekulating to push the prices up higher.
Hmmmmm. Having a go at the wheat futures market today then AtW. The Commitments of Traders report comes out later today. We can see from the turkey's beak if the open interest is held by speckulants or hedgers (i.e. farmers and food processors).
Edit: Just checked last week's version.
Producer/Merchant/Processor/User: Net -175,659 (contracts)
Managed Money: Net 15,164 (contracts)
How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.
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