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roarintiger1
Honored Advisor

Is it time to cash in?

I know some folks have a little old crop grain around. Just wondering if, after this nice little rally, it's time to pull the plug and cash in?  Or........do you think this thing has legs left to run?  

How about as far as new crop?  Around here we are looking at $5.40 on new corn and $12.50 on new beans.  

 

Where are you finishing up old crops sales?

Where are you as far as your new crop sales?

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7 Replies
nwobcw
Advisor

Re: Is it time to cash in?

  Someone once said "the trend is your friend".

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idalivered
Advisor

Re: Is it time to cash in?

My guess is that many farmers in north iowa still hold half of last year's crop. most of it unpriced. very little new crop sold.

 

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steeringwheelholder
Senior Contributor

Re: Is it time to cash in?

I have about the same old crop left as I do new crop priced. Few thousand of each crop. I have commercial storage to hold my grain, and even though it doesn't cost but a few cents per bushel per month, I have been selling some over the past month. I popped on new beans the other day for $12.50. New corn, I sold a little at $5.50 local just in case it would fall off this week. Not as high as last year, but I can turn a good profit at those levels.
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kraft-t
Senior Advisor

Re: the trouble is

That many farmers can be incredibly wrong.

 

Sold 5k friday so you can credit me for todays gains.

 

Have we been getting any rain lately?

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Red Steele
Veteran Advisor

Re: Is it time to cash in?

Correct me if I am wrong, but I have seldom seen a rally of this length that does not end with a "blow the top off" gain for one day, and part of a next, and then limit down.

 

I think this last leg takes us to $7 cash corn,  $15 cash soybeans, and $6.50 new crop cash and $15 respectively. Most will not have any bushels to sell on the last few days, comfortably, and that will make for explosive gains.  I think this happens with what is already on the table.

 

Throw in a hot, dry summer, and I won't even venture a guess, but if we would get into a situation where people with forward sales are trying to buy their way out of them, it won't be pretty.

 

Obama is not going to embargo American grain, a world leader such as our POTUS has to worry about his subjects all over the globe, not just US consumers.

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Artifice
Senior Contributor

Re: Is it time to cash in?

risk profile.

sell now for 13$ beans, sure thing.

or wait til july and get 17 or 7.

art

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sixtysixx
Veteran Contributor

Re: Is it time to cash in?

sold out on old beans sold 25% new beans, holding 60% old corn, no new corn sales yet.

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