Wheat Speculators Just Hit an 8 Year Bearish Extreme
The dumb money is all in on lower prices—right as the smart money leans long and weather risks creep in.
Wheat prices don’t just respond to weather—they respond to expectations. Right now, both are in flux.
Optimism over trade talks with China gave the market a brief lift last week. Today, that optimism disappeared in a single headline: President Trump has no current plans to speak with Xi Jinping.
The price didn’t wait for clarification.
It dropped.
But tha…