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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Thursday, January 17th, 2019
Thanks to everyone that stopped up at the Hospitality Room at the farm show.
Ag Plus will accept wet beans at our locations, we do not have a 16% limit on moisture.
Special Notes: The markets are closed on Monday in observance of Dr. Martin Luther King, Jr Day. Also announced today, almost half of the FSA locations will open their offices on Thursday, January 17, Friday, January 18 and on Tuesday, January 22 operating normal business hours. Check the USDA website to see what offices are open and the services they are providing.
Markets opened higher, traded lower and rallied to close near the highs. Technicals lended support to the market last night. Traders were looking for news when a rumor hit the floor that the U.S. sold China Hard Red Winter Wheat and the markets took off to the races. Corn and beans both broke through resistance to close higher. Traders tried to confirm the sale rumor, one possible seller denied selling any wheat. President Trump was rumored to be talking about dropping tariffs? Secretary Mnuchin and Secretary Lightzenhiser staff members both indicated we had a long way to go to reach a deal with China. United States currently is the lowest cost supplier of wheat and corn, should help sales. Brazil is currently 20 cents cheaper than the Pacific Northwest, 40 cents lower than the Gulf. We did break the 50, 100 and 200 day moving average on corn today with the rally. Wheat also broke the 50 day moving average. No export sales because of the government shut down. Outside markets have the dollar up 23 points at $95.700, gold is down $2.20 at $1291.60, and silver is down 97 points at $15.495. Crude oil was down over $1.00 early in the day but is currently only down 10 cents at $52.21 Stocks started the day lower but have rallied with the Dow futures up 174, Nasdaq up 54, and S & P up 23.
Support on March corn is at $3.77-1/2 and $3.71 and resistance was $3.84-1/2 and $3.86-3/4. Support on March beans is at $8.91 and $8.80-1/2 and resistance is at $9.11 and $9.26. Support on March wheat is at $5.08 and $5.01-1/4 and resistance is at $5.17-1/4 and $5.24-1/2.