Monday, February 25, 2008

Wheat Locks Limit, Soybeans and Corn Approach It

Price for all three of the major grains have either reached (wheat) their lock limit prices or are very close to their lock limit prices for the day. Soybean prices have risen 17 of the past 22 days and 7 of the past 8 days. It appears that we may reach lock limit prices for all three of these grains today. Note here the weekly price of soybeans, which has tripled since Feb 05!

Weekly Soybeans Chart
And here are today's charts for wheat (upper), corn (middle), and soybeans (lower).

Wheat - has locked limit (see green line at 1124 4/8)
Corn - it has now touched lock limit (green line at top middle chart)
Soybeans - new record at 1485 4/8, less than 3 cents from lock limit of 50 cents for a single day