Look at the following charts of the grains. Wheat is at multi-year lows, along with Corn. Do remember, the PEDv outbreak has killed millions of US hogs and they eat corn, so there is lots of supply
Chart 1 – Wheat Daily Chart
Take a look at the Wheat Daily Chart above. Of course Hawkeye volume picked up the professional selling (indicated by the red arrow).
Chart 2 – Wheat Weekly Chart
This selling is confirmed by the volume chart on the Weekly Wheat Chart (indicated by the red arrow). What trends!
[The red arrows are for illustration only and are not part of the software]
Have a look as well at Hawkeye on the Soy complex. This year has been a near perfect growing season – ample rains and sun. You will see that Hawkeye Volume is very bearish – as it is of all the grain complex.
As a note: feeder cattle and live cattle have been a belter of a trend. Be careful, it looks like tops are being put in.