Percentage of New Crop both Corn and Beans Sold or Hedged for 2013?

[rswfarms]

I am kinda of a comparison type of guy, so I am curious as to how everyone is doing with marketing there 2013 crop. Does anyone have 50% of there new crop sold/hedged yet? I know enough about FAUST to say he has 0% of his new crop sold. Right FAUST? If you read this, just giving you a hard time again, since I know you never price any of your crop till it is in your Tin Cans!!!!! Anyway, I would be curious as to how everyone is doing on there new crop marketing. Thanks for the replies!!!!

[Farmer Deere]

10% of a normal crop is sold for cash at $5.41

[kraft-t]

0% of a normal or abnormal crop sold for 2013.   Still waiting for $8 beans for the 2012 crop . lol

[rswfarms]

Hey, thanks guys for the input. I am at 0% myself. I usually try to have 25% of new crop sold before or around the JULY time period. Last year I didn't do that and it worked out pretty good, sold some for over $8. This year, I don't know, but we may have to get along on $5 to $5.50 corn and $12 new crop beans. For the guys paying $500 cash-rent in Iowa, $5 corn only leaves them around a $50 to $75/acre net profit. That isn't much of profit margin if they lose 20-30bu of corn yield due to a production issue/problem.

[swmi]

Cleanedl out my bin with last 2 loads of soybeans this morning.   Got $15.22 bu.  To me thats a bases loaded  home run.  Grain buyer at the elevator told me hardly anyone is bringing in old crop and nobody is selling any new crop.  I agree with RSW; I can't foresee decent prices for new crop unless we get a weather event or some other problem.  Going to be an interesting time in the market this  summer.      

[Silverwheaton]

0% new corn, 0% new beans

Just feel that the corruption in DC has bled over to USDA and the farm press and all this talk about demand destruction is over blown.  Maybe I will be the fool.

[rswfarms]

Hey, thanks for the input SWMI and Silverwheat!!!! It is starting to appear that very little new crop is currently hedged or sold. And SWMI, yes, good job on your beans, I think $15.22 qualifies as an official HOME RUN.for you. But you know SWMI, the rule is that anyone that sells there beans for over $15 dollars has to buy everyone a beer. So, hurry and get that good Bean Check of yours in the bank so you can buy all of us a cold one!!!!!!! I have a feeling that unless we get some weather issues we may have to settle for corn at a rough price of $5 to $5.50 and beans in the $11.75 to $12.50 range. These are cash prices, not CBOT prices. Thank God, I just finished giving the construction company putting in my wife's "NEW DREAM KITCHEN" there finial payment check to pay for my wife's new kitchen, because I may not have the money to pay for it with new crop corn and bean sales!!!!!!!! What a waste of farm profit money, to spend it on a kitchen, nothing was even broken, she just wanted to make it 2x as big as the old kitchen!!!!! 

[rightone]

so while your whining about the supposed poverty later, you'll be fat going into the famine.

btw, the sky is not likely to fall. MO

[rightone]

the crop HAS to be MADE before sold.

That simple premis might take some 3 or 4 years or "learning" to figure out.

( Works GREAT for buyers and as long as the shorts can keep delivering or pay up on those cheap lessons, So Be It )

Government pays for those lessons anyway, with the Oct price option.  LOL

a bird in the hand is REAL and worth some dough.

the 2 still in the bush...are still in the bush ( could take years to catch those to deliver later ).

[Pat in CMO]

Nothing sold here yet.  Patrick