This next year, 2024, will be a good time to hit the ground running when it comes to preparing and implementing a great marketing plan.

You make your marketing decision based on what you know, not on what you wish.

Remember, when the basis is strengthening the market needs to buy wheat. As soon as they cover their needs, the basis will begin to weaken.

What it boils down to is that watching a technical study in the futures could very well give you an indication of when to contract or when to hold and you can feel good about your decision.

Grinding through wheat market analysis means analyzing the whole market picture.

The futures markets were volatile this spring as the large spec traders moved the markets both higher and lower. I am often asked if there are ways to take advantage of the movement in the market when these large traders move the market, and the answer is, yes.

Now it’s time for us to get to work. I almost hate to use the word “work” just for the fact that you have enough to do without me piling on more, but the fact still remains it does take effort to market your commodities.

Most of you keep a close eye on your crops during the growing season. You at least drive by your fields to make sure the water is running, and many will change the water during the day as well as check the overall condition of the crop. Do you do the same with the markets?

What does the new-crop basis tell you, and how do you know when to jump into the market?