I found a pair of articles at Bloomberg and the WSJ (here and here [sub req'd]) dealing with corn. The WSJ bit is about rising food prices worldwide due to the demand for biofuels (mostly corn based in the US) as a result of rising oil prices. The Bloomberg piece is talking about the recent price declines in the corn market.
Whom to believe.
All I can say at this point that there is still no saving my wheat options. Unless we continue seeing price action like this daily through the end of the week, its a lost cause. This is the price of being too early. As all that farmland gets converted to corn growing, its going to squeeze out wheat and eventually you'll start seeing prices on other grains heading higher (again) too. Unfortunately, I won't be riding that move. I'll just close out my account and call it a learning experience. Once I have some time in the future, I can come back to the commodities markets and really learn how to trade in them. But not now.
There's always the software business. Right?
Until next time...