Anyone with beans left to sell?

[roarintiger1]

If you have soybeans left, are you selling them?

[infire]

Still trying to decide, historically seems the highs are yet to come, but getting ichy

[BA Deere]

I don`t have any old crop.  But I`m wondering...about new crop, it`s 25¢ higher than what I sold my `15 crop for.  Last year in July beans were over $9 for a day or two and then went down like a elevator.

Gurus have been bearish bearish bearish beans, according to them, beans should`ve and had to`ve had a "7" in front of them by now instead of closing in on $9 cash.   This is the problem during markets such as this, gurus that have been bears now have to justify their bearish position.  They have clients that are short and nervous, so to quell their concerns they keep preaching on the bear pulpit, it`s hard to glean usefull information from them, the more they preach, the higher it goes.

However, the beans could be on thin ice and when enough are contracted, this ice could crack and into the lake we go with no warning, especially if planting goes off without a hitch, then the bears will get their "$7 beans" to brag about. 

"silver and soybeans" silver is over $16, the buck is down, oldtimers watched silver for a direction in beans.  But who knows anymore..

[infire]

This morning I can sell july15 for 9.49 and jan16 for 9.47, have to admit seems kinda dumb not to sell

[infire]

Prior to the report every time cash got to 9.30 they would drop our local basis to offset gains in the market, since the report have seen nice gains but no change in basis, debating if that means anything

[westernia80]

No old crop left, sold a little new crop yesterday, 8.71 at local elevator.  It is the first of any new corn or beans I have sold.  I see no reason to sell any corn with cash at 3.33, no way we plant 93+ million.

[Reno31]

Beans are all gone. Lots of corn to sell yet, so guess which one keeps going up.

The SA crop didn't crush us after all.

[Hobbyfarmer]

Land still changing operators around here... No ground will go unplanted ....

I rented a farm in 1985 from the old PCA @ $11 dollars and acre, really hard to make money much faster than that legally.

I was the only one that stepped forward and could write a good check that day. 

Lots of ground that sold for $1200 to $2000 an acre resold for $250 to $500. 

This thing ain't over yet. Bubbles pop...

[Hobbyfarmer]

Yes to the original question

In no hurry to create a taxable event at these prices.

It's the corn in the bin that needs a new home.

[Red Steele]

soybeans are getting interesting. THe beans that were not in strong hands are long

gone, as cash flow dictates, and lender demands either had them sold off the combine

or hauled in months ago to solidify balance sheets.

The beans that are left in the bins are going to wait for the basis to start narrowing to

more historical levels here in southern MN where the processors that are usually

twenty cents under have a basis of 45 cents. Local coops have a basis near seventy

cents. 

I usually view soybeans like gold....the corn crop pays the bills and soybeans are my

lottery ticket. I forward contracted more than usual for last fall to pay the bills, but the ones

that are left are dry and cold and can wait for a better opportunity.

If "they" are willing to pay $9, "they" are probably willing to pay $10 or more, too.