Wheat Marketing Strategies

Wheat prices were very strong during the end of November. Producers may have chosen to wrap up sales of old crop wheat on that strength. For those with wheat in the bin, modest price strength should be regarded as an opportunity to complete sales, especially if prices are as high as during late November. Scale-up selling of anticipated 1994 production on the Minneapolis Grain Exchange (MGE) at $.350 September futures or better should allow many producers to realize at least $3.00 on the farm, the anticipated 1994-95 seasonal average farm price. Such an opportunity should be captured whether in December, February, or May. For much higher prices to materialize, traders may have to see the development of unfavorable growing conditions