Wheat Prices Go Against the Grain

With apologies to the Doors...

This is the end, bear market trend
This is the end, my only trend
The end of our bearish plans
The end of everything that stands
The end

I speak, of course, of wheat, not stocks -- yet. A former colleague in the commodity business used to refer to the dirt-wheat spread: Farmers bought dirt and sold wheat.

This is not a very flattering way of looking at one of the oldest and most useful businesses in the world. Think about your own diet and how few days you do not eat wheat in at least one form. The whole thing can make you misty-eyed thinking about those food pyramids, the four food groups and other elementary-school folderol. ...