(May 1 2012) Exclusive to GEOnomic Investing:
Wheat prices oscillated this month in reaction to the weather, and its perceived implications on supply. In the end prices slumped slightly, finishing the month at $6.54 a bushel compared to $6.56 on the first trading day of the month. On the last trading day of the month wheat fell on profit taking, as investors took the previous weeks 4% rally as an opportunity to cash in some profits. According to the USDA U.S. spring-wheat is being planted faster than the previous five-year averages, and the winter-wheat crop is in good condition.