Grain Market Update

Sep 16, 2022


Grain Market Update
Wheat prices are back to levels we have not seen since mid-July and are currently trading above $9.00 July 2023 futures. At these levels we have a projected profit of $80/acre. Ukraine grain exports remain robust since the opening of export business in the Black Sea Region, but we are still behind last year’s export volume by 46%.  A decrease in export volume coupled with the dryness in the plains region continues to feed the bulls to run the market higher.  On the flip side the bears argue elevated values causing staleness in liquidity and shipments of wheat out of the US. Couple that with the strongest U.S. dollar we have seen in 20 years puts pressure on commodities. 
 
Growers looking at wheat 2023 should manage profit and stay flexible in these uncertain times of inflation and geo-political unrest. We will be spending roughly 50-60% more in inputs for 2023 managing that risk is the key to success. 

Picture1.pngPicture2.png

Read More News

Apr 14, 2023
The potential for the most combined planted acres of corn, beans, and wheat since 2014 (229.4 million), and very contradicting moisture stories across the country, have producers concerned with both upside and downside potential in the ag markets.
 
Feb 15, 2023
Price discovery is the mechanism used to establish the base price and harvest price for each crop insured by Federal Crop Insurance. Learn more about base price and what to expect in 2023.
Feb 14, 2023
Read about the soybean market and what to expect in the 2023 crop year.