08-13-2013 01:36 PM
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.
08-13-2013 03:36 PM
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.
08-13-2013 09:14 PM - edited 08-13-2013 09:16 PM
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...
08-13-2013 11:17 PM
08-13-2013 11:20 PM