Hedge recommendations were filled overnight.
Recommendations in yesterday’s newsletter to finish up old crop wheat sales and advance new crop sales further were filled. Logistically most were not given the opportunity to work these orders at the elevator.
Make the remaining 10% sale of HRW 2021 wheat at 11.25.
Make the remaining 20% sale of HRS 2021 wheat at 11.10.
Increase new-crop 2022 HRW wheat sales by 20% at 11.10 July.
Increase new crop 2022 HRS wheat sales by 20% at 10.20 Sept.
The ability to execute these trades during the day session is questionable, so the point of this notice is to just say, get it done. The explosive lift in wheat prices has entered the parabolic stage and is not sustainable. You can even see in the corn and bean market they cannot lift to sustaining new highs alongside wheat. India is about to come into the export market, and we have put prices above all world values. All this, while the wheat in Russia and Ukraine is still there for a future date to sell.
Finish up old crop wheat sales from last year at present values without concerning of getting the price that makes you feel warm and fuzzy. New crop wheat sales should be near 50%, as even a drought that manifests in the southern plains in April and May will have difficulty likely sustaining beyond these prices of near $12.00 as well.