The base price of wheat for crop insurance purposes has been set at $6.64. Have you considered making any wheat sales yet? There is still a lot of time before you will be pulling your combine into the field, but I have a couple targets on the horizon which would make nice points to sell some wheat.
The chart below shows two lines of significance to watch out for. The first is at $6.90, and the second is at $7.30.
The CCI oscilator at the bottom of the chart is really not one I am buying into. On the July wheat chart, it has yet to accurately predict any area from which to make a decision. That could change now that we are in the 2014 marketing year, but it will need to prove it to me.
Be ready for a pricing opportunity very soon!