Ag Plus meets producers' grain marketing needs by providing access to end user markets, competitive bids and pricing programs. Our experienced team provides competitive prices, transportation needs, drying and storage service, and we take pride in unloading grain quickly during the high-volume harvest season so your operation doesn't experience bottlenecks. If you have any questions feel free to contact Dave or Laura for your grain marketing needs.
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Friday, December 14th, 2018
Ag Plus will accept wet beans at our locations, we do not have a 16% limit on moisture.
Ag Plus will be hosting marketing meetings at several locations on Monday and Tuesday. Monday will be at South Whitley board room at 9:00 A.M. and Raber at 2:00 P.M.. Tuesday we will have a meeting at the Edgerton location at 9:00 A.M. The meetings will recap the markets and what is happening currently. We will also do a presentation on a marketing program we will be offering on for grain in the bin, new crop for fall of 2019 and new crop for the fall of 2020. The program will be offered through MidCo Commodities and will be available until December 31st for sign up. Bryce Stremming will be here from MidCo to tell us what he sees in the markets and to explain the marketing program. Feel free to attend any of the meetings to learn more about the marketing program.
Lots of rumors in the markets again today. Talk of China being a large purchaser of corn over the coming months. More talk about bean being sold to China as well. President Trump continues of trade deals coming with China that are going to be really good. USDA announced sales this morning. Japan bought 125,000 MT of corn, China bought 300,000 MT of beans, and Unknown bought 130,000 MT of beans, all for this year delivery. Rumors were China was going to buy 3 MMT of corn (120 million bushels) for this year delivery but nothing was confirmed. Brazil announced they are working on an agreement to ship more pork and chicken to China. China lowered their wheat production from 134.3 MMT to 131.4 MMT. Informa released updated acres of corn and beans for next year. Corn acres were down 905,000 at 91.9 million, up 2.8 million above last year. Bean acres were 85.1 million, down 4.1 from last year but up 1.6 million from last month. Surprising we are seeing acreage increase in beans with the ratio between corn and beans. Could financing be the issue? Secretary Perdue talked that he was meeting with the White House and OMB to push to release the balance of the Tariff payments. The dollar was higher today trading up 384, gold was down $4.60, and silver was down 239. Crude oil was higher early but has sold off and is down $1.37 at $51.21. Stocks were higher early but have sold off with Dow futures down 460, Nasdaq down 154, and S & P down 44.
Support on March corn is at $3.82-1/4 and $3.78 and resistance was $3.86-3/4 and $3.90-1/4. Support on January beans is at $9.08-1/2 and $8.96-1/2 and resistance is at $9.23-3/4 and $9.37-1/4. Support on March wheat is at $5.14-1/2 and $5.05 and resistance is at $5.32 and $5.42-1/2.