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Advisor
hardnox604008
Posts: 5,518
Registered: ‎05-14-2010
0

listen to the corn market

even if you don't like what it is saying.

 

BTW, back in the day, it was 90% inevitable that we made a crop (that part still is, mol?) and we spent the summer heading down to loan rate or in the LDP era, heaven knows- sweet double dipping territory, lol. All you could do was get some sales on early and then sell a bit more into every bounce on the way down as you crop progressed to anything better than really bad.

 

But I really don't know what to say right here for anyone who is mostly or all unsold in new crop at this point. Old crop- at least the basis is still pretty decent.

 

As far as new crop, I guess I think we could go a buck lower before it is all over. We could also make a low somewhere not too far below here but if and only if there is frost. I don't like the odds but once you've ridden it this far- and particualrly if you have revenue coverage, I don't know.

 

Nobody asked for my opinion but that's what I'm thinking.

"People of privilege will always risk their complete destruction rather than surrender any material part of their advantage. Intellectual myopia, often called stupidity, is no doubt a reason."

J.K. Galbraith
Senior Contributor
Blacksandfarmer
Posts: 899
Registered: ‎08-04-2010
0

Re: listen to the corn market

Nox, I think the new crop soybean market has given the farmer more than enough opportunities to sell into profit. The corn market has been tough. It seems like every time I thought about selling new crop corn, the market went down. I did sell some nc corn this spring for $5.20. I wish I had sold more than 1,000 bu though. Being that I only have 70 acres of corn out, plus revenue coverage, I should be ok for this year.... Next year might be tougher yet in regards to price.

Veteran Advisor
Shaggy98
Posts: 4,221
Registered: ‎06-19-2011
0

Re: listen to the corn market

BSF, that is a good statement.  Could be a year where we get good yields and an insurance check if you've got revenue coverage.

Frequent Contributor
NateWCMN
Posts: 29
Registered: ‎06-15-2010
0

Re: listen to the corn market

[ Edited ]

I hear the corn market wispering "plant more beans in '14"!  With the very dry conditions up to spring and then the wet late spring in our area, I ended up switching my last bit of corn acres to soybeans, and I am happy I did.  Wish I had more corn contracted now, but 50 bpa is better than less.  I agree with Blacksandfarmer that the soybean market has been giving some good opportunities to price since planting.  Just started tiptoeing into the futures market this year, and hedged my oats as an experiment - should have bought corn and bean puts also...

Veteran Advisor
Shaggy98
Posts: 4,221
Registered: ‎06-19-2011
0

Re: listen to the corn market

I bought corn puts to cover my corn and grain sorghum.  Turns out it was a wise choice.  Already banked over $0.75 per bushel and haven't even got the combine dusty.

Community Manager
marketeye
Posts: 3,218
Registered: ‎05-03-2010
0

Re: listen to the corn market

NateWCMN,

I wonder how many are whispering your last statement in their heads. I think this 'put' idea could turn out to be the story of the year. If you had them, the big crop market didn't hurt you as much. For the unsold guys, the options market could become their new found friend,

Just a thought.

Mike
Community Manager
marketeye
Posts: 3,218
Registered: ‎05-03-2010
0

Re: listen to the corn market

NateWCMN,

I wonder how many are whispering your last statement in their heads. I think this 'put' idea could turn out to be the story of the year. If you had them, the big crop market didn't hurt you as much. For the unsold guys, the options market could become their new found friend,

Just a thought.

Mike