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Senior Contributor

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

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!!!!

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15 Replies
Contributor

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

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

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Senior Advisor

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

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

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Senior Contributor

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

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.

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Frequent Contributor

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

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.      

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Senior Contributor

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

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.

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Senior Contributor

Re: Percentage of New Crop both Corn and Beans Sold or Hedged for 2013?/SWMI & SILVERWHEAT

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!!!!! 

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Senior Contributor

Re: Look at the upside. Bet she's a good cook.

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

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Senior Contributor

Re: Sooner or later most folks eventually figure out

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 ).

Senior Contributor

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

Nothing sold here yet.  Patrick

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