Bower Market Strategy Report: Get Ready for A Wild Ride
Last week was a good example of what we can expect in the market for the next several months, says Jim Bower. Big moves up and big moves down, “Volatility from here on in is going to be the norm. I don’t think the market is going to be quiet. I don’t think it will be relaxed. I think there is going to be a lot of uncertainty and a lot of up and down.” He added that farmers and investors are going to have to be ready with their strategy.
Bower says the wheat market will be especially volatile given the weather in the west and the very low winter wheat acres, “Since last fall, we have not had optimal weather condition in about the western 45% of the winter wheat belt and with acreage at a 109 year low. Any threat to yield will really impact this market.” He said the wheat market is very oversold and anything that threatens yield as the crop comes out of dormancy will spark a big market reaction.
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