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roarintiger1
Honored Advisor

At what price will you sell?

The calendar has flipped to the new year. So not selling for tax purposes is over. What price will you open the bin doors to sell old crop corn and soybeans?

New crop is another story, especially with the outrageous input prices. 

My thinking is that I will be selling in increments as the prices go a little higher on old crop. Maybe on a scale up method.

As far as new crop is concerned, I probably won’t be selling any new crop until the April/May time frame. And then only on small increments on up days. There are too many unknowns to be a heavy seller of a new crop until more information is known. There is lots of time to sell ‘22’s crops. 

Everyone’s situation is different. So market accordingly. 
 
What are your thoughts?

10 Replies
sw363535
Honored Advisor

Re: At what price will you sell?

agree with patience.....  

Beans are the interesting item and hold the key to solving most of the cash flow problems.

$14 is around the first corner ahead...... somewhere before march the fertilizer issue will be answered by planting intentions.  

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WCMO
Senior Advisor

Re: At what price will you sell?

Am just a small conservative old farmer, didn't have anything contracted for 2021, everything stored at harvest at local elevator, had cash priced roughly 50% of old crop before Christmas, corn and beans both.  Just cash priced another roughly 20% a few minutes ago this morning, corn and beans both.  $6.14 corn, $13.84 beans.  I don't mind screwing up at decent prices, but don't like paying too much storage at elevator either.  Can't help but think fertilizer prices are going to help drive up bean acres, and hold up corn prices, while South American weather will also help hold bean prices up for now.  Today's sale now covers all my prepaids, 2022 rent, and my last farm payment due next December.

illinifarmer
Advisor

Re: At what price will you sell?

Usually 20% pre-sold before harvest, and like a lot of guys this year sold the remaining off the combine.  So, no bin doors to open they’re empty. In years passed stored around 30% for carryover.  Haven’t had the opportunity to in years it seems.  Can’t wait to see the swing come tax season with planting intentions always hyper exaggerated.  Ride the wave fellas, chances are if your in a position to play your doing ok. Still reading reports of record 21’ crops just keeps amusing me. Happy new year

roarintiger1
Honored Advisor

Re: At what price will you sell?

Corn up 20 and soybeans up 35 today might just get my bin doors open just a crack.     

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erikjohnson61y
Veteran Advisor

Re: At what price will you sell?

Already applied fall Potash and Phosphorus for corn. Bought Urea for spring application already at $970/ton.  I'm fertilizing for 150bu versus the usual 200 I shoot for (and made a couple of times). For beans I'm going with carryover fertility since I fertilized for 225 bu corn and got 140 with the drought. 

I sold 2 loads at $6 last week. Now waiting for $6.25.  Plan to sell one load each time it goes up a quarter and hope I don't run out before the rally peters out.  Agree with WCMO that I will look at contracting some new crop in May. Sold New Crop beans at $13.27 last May and that looked good at harvest time. As long as I can sell new crop at $5 or better, I should make money this year.

IF new crop us above $5 AND weather looks favorable, I'll top dress more N in June. Been dry here since late 2020.

sw363535
Honored Advisor

Re: At what price will you sell?

Dry is the key word....... getting real close to feeling like 2011.

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Hobbyfarmer
Honored Advisor

Re: At what price will you sell?

Beans ADM Des Moines have gotten over $13.80 here in overnights.

Not sure it's going to print anything over $14 this week but if it does I'm putting the hopper trailer back on the semi.

Last year my poor marketing skills topped out at $15.11 on the bean side (most much lower) but was nice getting over $14,000 a load. 

Beans with a $14+ will buy some of that $1500 nh3. Still will not like it but...

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BA Deere
Honored Advisor

Re: At what price will you sell?

The short answer (on when i`ll sell) is when I get the time.  At work I have to run and try and get a truck back the a driver thinks is a battery issue, sounds like a gelling issue but could be a wire harness issue.  I say let the dealer in Sioux Falls handle it, that`s the cost of "being in the trucking business" and I`m not a mechanic.  I have some corn in the elevator  that was worth over $6 that day a little over a week ago, now they widen the basis another 4¢ and after yesterday`s rally it isn`t even $6.  Gotta have my $6 on it so i can brag  🙂

Corn in the bin, since there`s no commercial storage I`ll sell anytime that I get the time, I just want over $6 for most of it so I can strut around like a Banty rooster. 

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rsbs
Veteran Advisor

Re: At what price will you sell?

Crop in the bin.... I will start incremental sales at $6.25 corn, Soybeans $14.50.

I posted that a month ago

For new crop...$8 corn, and $20 soybeans.

Just for the record, I did hold off in whatever year it was that corn hit $8 out of the field and did hit a homerun on everything. 

Not so lucky in 2021 with 2020 and previous stored crops, but that is similar to 2008 (?) too.

It probably all averages out.

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