Just a Reminder - AgVentures Offices will be closed on Monday for the Labor Day Holiday. The Seed Plants in Odessa and Harrington will be open Regular Hours on Monday.
Wheat futures moved sharply higher in the overnight session on news that Russia had sent troops into the Ukraine. The Ukrainian President has called it an invasion. After the opening wheat markets made new 3 week highs in the first hour then back down a little before profit taking near the close settled wheat price near the middle of today's trading range. Corn and soybeans also closed higher on spillover strength. Export Sales for last week came in at 14.8 million bu including 2.4 million bu in Soft White sales. Corn sales totaled 26.1 million bu and soybean sales were 44.2 million bu.
Odessa Seed Plant Hours Mon - Fri 7:00 am to 5:00 pm Saturday 7:00 am to Noon
Harrington Seed Plant Hours Mon - Fri 7:30 am to 5:00 pm Saturday 8:00 am to Noon
Market hours: AM 9:00-11:10, PM 3:00-4:30 No PM market on Fridays No PM Hard Wheat Markets
If you would like to sign up for direct deposit payments for grain sales click here to open a form you'll need to fill out and send in. After filling out the form mail it to our Odessa office, P.O. Box 247, Odessa, WA 99159. Thank you.
All indications point to a large global wheat crop this year. The most recent USDA report forecast global production at a record 716.09 million metric tonnes, up almost 11 mmt or 1.5% from last year's crop. Sounds bearish? Perhaps not so.