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, March 21st, 2019
Mark your calendars for the annual Pancake and Sausage Breakfast at Ag Plus. They will be held the week of March 18th from 7 to 9:30 A.M. The last breakfast will be at South Whitley on Friday. We hope to see you there.
Markets were quiet early but rallied near mid-day on rumors that China was in buying corn off the Pacific Northwest and were buying pork. No confirmations on either at this time but Gulf and Northwest basis levels were firmer indicating they might be purchasing. Grains closed near the highs of the day, will we see more follow through overnight? Weekly export sales were released today. corn sales were 33.7 million, up from 14.6 million the previous week and well below last year at 57.9 million. Bean sales were disappointing after last week. Sales were 14.7 million on beans, way below last week at 70.3 million and also below last year at 27.9 million bushels. Wheat sales were 11.0 million bushels, above last week and last year both at 9.7 million bushels. The stronger grains came today with the dollar up 689 points at $95.89. Gold was also higher trading up $5.60, silver was up 165. Crude oil was down 37 cents at $59.86. Stocks were all higher today with the Dow futures up 283, Nasdaq up 125, and S & P up 36. USDA will release March 1 stocks on March 29th at noon along with planting intentions for spring.
Support on May corn is at $3.69-1/4 and $3.61 and resistance was $3.80 and $3.86. Support on May beans is at $9.01-3/4 and $8.90 and resistance is at $9.12-1/2 and $9.16. Support on May wheat is at $4.52-3/4 and $4.45 and resistance is at $4.75 and $4.97.