In looking at marketing strategies we need to understand that without a major threat to the crop, it is unlikely we will see much of a price rally this year. Supplies are quite adequate to meet any unexpected demand as well. So, we may be forced to focus on relatively small pricing opportunities. Be prepared to move ahead with any sales that need to be made at or before harvest. Use any rallies as pricing opportunities.
Technical analysis can be a value tool in finding possible future price levels.
Stop by the FSA office and find out what you need to do to be in position to claim any LDPs. July wheat futures have continued to trend downward throughout April after rallying nicely during March. The smallish U.S. crop has already been factored into prices and we are likely past the most critical time for any major weather scares to stimulate traders. Despite a 10 percent reduction in total supplies this year prices cannot rally. Demand for U.S. wheat has been basically stagnant throughout the decade of the 90s and there are no signs of any change.