- Corn 5 to 6 higher
- Soybeans 17 to 19 higher
- Wheat 11 to 13 higher
- Basis Flat
- Live Cattle 180 lower (223.68)
- Lean Hogs 88 higher (81.60)
- Dow Jones 123 higher (53,523)
- Crude Oil 103 higher (85.10)
Momentum and a little hot weather popping up in the forecast are the simple answers for today’s surge to new summer highs as beans pushed to, but not through, the contract highs, while corn was able to push to the recent highs. More destructive attacks by both sides in the Russia/Ukraine war on Black Sea shipping infrastructure allowed wheat to contribute to the bullish parade of news with wheat trading to new 3 ½ week highs. After yesterday’s pullback from the daily highs and a modestly lower early overnight trade, the markets roared into the early trade on the bullish overnight developments.
The sales targets that were updated on July 22nd are below and getting closer with each new leg of the rally. Please have your orders in with your buyers because there is simply too much overnight news to think you will be in the right place to take advantage if these prices are hit. There are also some attractive put strategies to set a floor that would give you protection and allow cash participation if this impressive rally continues.
This will be today’s only comment.
Sales Targets
Corn
Beans
Wheat
- 2025 Crop Finished Finished Finished
- 100% Sold at $4.48 Avg 100% Sold at $10.67 100% Sold at $6.24 Avg
- 2026 Crop On Hold - Dec ‘26 10% at $12.75 – Nov ‘26 20% at $7.15– Sep ‘26
- 70% Sold at $4.88* 60% Sold at $11.42* 65% Sold at $6.24
- Current Price $4.95 $12.35 $6.76
- 2027 Crop 10% at $5.20 - Dec ‘27 10% at $12.15 – Nov ‘27 25% at $7.55 – July ‘27
- No Sales Yet 10% Sold at $11.50 25% Sold at $7.15
- Current Price $5.05 $11.95 $7.18
%’s are total of expected yields. Bold Prices are Updated Sales Targets. * price includes trading
Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. No market data or other information is warranted by Reliance Capital Markets II LLC as to completeness or accuracy, express or implied, and is subject to change without notice. Any comments or statements made herein do not necessarily reflect those of Reliance Capital Markets II LLC, or their respective subsidiaries, affiliates, officers or employees. Disclaimer: Past performance is not indicative of future results. Strategic Trading Advisors is a registered DBA of Reliance Capital Markets ll LLC.
About Jody Lawrence
Jody Lawrence has been in the commodity brokerage and agriculture marketing business since 1992 and started Strategic Trading Advisors in 1999 and runs it today with his son Brady. The daily market comment his company publishes has over 7000 subscribers in 33 states and 3 countries and provides a concise overview of the world markets with ideas on farm hedging and marketing. Jody also travels the country giving 60-70 marketing meetings a year through his 22-year strategic partnership with Helena Agri-Enterprises.
About Brady Lawrence
Brady Lawrence is an Agriculture Market Specialist and Financial Advisor that focuses on commodities markets, futures and options brokerage, and helping individuals and families plan for retirement and their financial futures. Brady joined Jody at Strategic Trading Advisors in 2018 after college and supports the market research and brokerage sides of the business.