The Times - Serving Waitsburg, Dayton and the Touchet Valley

When seasonal lows are expected, when the trend has been flat-to-downward for a year and winter wheat harvest in the US is effectively complete, these are the times that try men's patience (with apologies to both Thomas Paine and the women whose pa- tience is also tried).

The wheat market has been unable to identify a low point. Each new attempt to rally wheat futures in Chicago since the lows of mid-June has produced only a lower high than the previous attempt, along with a lower low following, the classic definition of a negative trend.

On Monday, Chicago wheat dropped to a new low, most lik...