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Have You Considered Selling Any New Crop Wheat Yet?

9/30/2013

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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.

Picture
Support and resistance points of significance.

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!

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Steve Wade and Tyler Wade of Wade Assurance are associated persons for AgDairy LLC.

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The risk of loss in trading commodity futures contracts can be substantial.  You should, therefore, carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

Wade Assurance is an equal opportunity insurance provider.
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swade@wadeassurance.com
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  • Home
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    • Futures Contract Specs
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    • Crop Overview >
      • Corn
      • Soybeans
      • Wheat
      • Supply/Demand Factors
    • About
  • Disclaimer