The winter wheat futures markets are seeing steady price uptrends in place and both hard red winter and soft red winter futures have recently hit multi-year highs. What’s different about the wheat markets versus corn and soybeans is that corn and beans have seen dramatic price moves amid higher volatility, including both corn and beans going “parabolic” in trading parlance. Meantime, wheat futures are steadily plodding higher. Veteran traders know that it’s the unassuming price uptrends that have the most potential for sustaining gains, as opposed to the dramatic upside price moves that suggest the market rally is in its final stage. It could be that the smart-money “fund” traders are now eyeballing wheat futures on the long side, for a more sustainable price uptrend. Stay tuned!– Jim