Grain Marketing Specialist
Wheat Growers would like to wish everyone a Safe and Happy Thanksgiving
Market hours through the holidays
Today- normal hours
Thursday – closed day and night
Friday- 8:30 – 12:05 CST
Wheat Growers will have limited staff available Friday during trading hours for your marketing needs.
Contact myself at 605-352-4404 or the hedgedesk at 605-725- 8373 for any needs
Corn: As of 7:45- 1 higher
Corn market remains range bound as the combines are getting put away and little interest in emptying bins quite yet as we work through the holiday trade. Basis is firm historically for this time of the year and implied volatile is low on options which make minimum prices contracts worth considering right now for corn as we search for some new news in this market. Contact your local Wheat Growers location for information on minimum price contracts.
Soybeans: As of 7:45- 1 lower
This market trying to decide not so much if but when the reduction of export taxes in Argentina will happen from the newly elected president and what impacts that will have on movement. Technically I look for support at the contract low of 8.44 ¼ and resistance at 8.67. US $ remains firm.
Wheat: As of 7:45- 3 higher
Funds noted as selling 7000 wheat yesterday putting pressure on the wheat complex. Ultimately the same old story of adequate stocks both domestically and globally weigh on this market. Australian harvest progressing to 45-50% complete with decent quality.