CROPS

On Tuesday morning, the wheat market was camped out squarely on the middle of the range line going all the way back to the third week of July. Chicago leading futures contracts were at about $8.70 per bushel, while Portland white wheat showed $8.78 or so. The center trend line is gently lower for the period. If Chicago futures break below $8.25-$8.35 in the December contract it will imply accelerating weakness. If the market can find the drivers to push above $9, a new upward trend-line will be created. Until one of these happens, it seems unlikely that market behavior will change much.

Eighty...