Although there's still need for concern about the retail sector, I must admit that I'm feeling fairly secure right now about Costco Wholesale Corp. (NASDAQ: COST). That is why I see this morning's 1.25% drop in Costco's share price as an possible buying opportunity. Already, that share price is being supported and lifted from a low of $69.55 and I'd be willing to speculate that Costco shall end the day in positive territory.

A Wall Street Journal article today puts a shine on Costco's seasonal performance, indicating that management executed a seasonal plan which worked nicely within the fragility of today's retail realm. Costco CFO Richard Galanti stated Monday, "We were left pretty clean in terms of seasonal markdowns.Generally speaking, our season went well." Costco has already changed over its seasonal square footage to furniture offerings, something it began doing even before the Christmas season grinds to a halt.

The two issues to keep focus on regarding Costco this year is how well it takes advantage of new opportunities and the quality of its management team. Already, five NBA teams have joined with Costco to sell discounted game tickets through Costco's website, according to SportsBusinessJournal.com (registration required). This development may prove to be part of a marketing push which will see Costco attempting to sell more non-perishable goods via the Internet.

The price of wheat says it all. Terrible drought conditions in Australia and poor supplies from Canada are driving prices for the crop through the roof.

This is occurring while demand is soaring as Iraq recently imported 700,000 tonnes and Algeria took in 100,000.

While prices are also being impacted by typical seasonal demand, there are plenty of buyers who put off purchases waiting for prices to moderate, which could keep prices high for awhile.

However, with that said, this is one commodity where the rug will be pulled out from under investors' feet. This looks like a short to this blogger.