LGA Agricultural Consulting Co. -                                  Confidence in Pricing Decisions
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Corn and Soybean Pricing
Wheat pricing
Soybean Pricing
Holiday hours for US Independance Day
Cash wheat spreads narrow

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Corn and Soybean Pricing

Customers bought both corn and soybeans this week on the break created by USDA reports on September 12.  Purchases were made at the previous low of 3.5525 December 18 corn and 8.2625 November 18 soybeans.

Wheat pricing

Customers priced old crop (2018 production) on the rally today after prices eclipsed the old high at $5.54.  Some customers priced part of 2019 production also.

Soybean Pricing

Current customers bought soybeans today on the trade below the low made on June 19.

Holiday hours for US Independance Day

Agricultural markets will be on a shortened trading day on Tuesday July 3 and will reopen on the morning of Thursday July 5.  We will be closed starting at 2:00 PM US EDT on Tuesday and reopen on Thursday at regular hours.

Cash wheat spreads narrow

Some markets have narrowed cash wheat spreads where on farm storage is not feasible using 5% cost of money.  If the spread between now and January 2019 is 13 cents or less move wheat from the field directly to buyers.

Wheat storage

Wheat harvest will be starting shortly in this part of the US.  If long term farm storage is not available, look to move wheat from the field to buyers.  Producers having long term  farm storage will want to store until at least January, 2019.  Current cash spreads return 10 to 13 cents per bushel after cost of money.

Soybean basis sales

Farm stored soybeans should now be shipped using basis contracts as cash spreads do not offer carry using a 5% cost of money.

Soybeans fall through support

Just an update to last week's comments.  Soybeans fell through long term support this morning.  Seasonal highs at 10.80 are now confirmed.  Sellers need to wait on bounces to price.  Buyers can price some of their needs.  

Soybean and corn update

Soybeans continue to decline and approach long term support.  If long term support is broken, major highs will be lower than the highs in the $10.80 area going forward. Sellers need to wait for a bounce to price additional quantities.  Buyers may want to extend additional coverage at the major support.  Corn is attempting to create a higher low than the last major support.  Once the higher low is confirmed sellers should have the opportunity to sell again in the $4.10 to $4.15 area.

Soybean and corn supports do not hold

Soybeans broke through support late last week and corn this week.  The market will now have lower highs and rallies should be sold.  Buyers covered a portion of their needs at the support areas.