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05-15-2018 11:59 AM - edited 05-15-2018 12:01 PM
It is amazing the lack of interest in implementing a marketing plan for soybeans on this site.
Maybe it is the ole Deere Headlight problem.
The market has been screaming at farmers to get hedged since the March 2nd timing high. Speculating on corn values is one thing (where the story is actually pretty bullish regardless of weather), but not having the new crop beans protected is quite another. (There is basically no way to get a bullish bean story short of a 1983 drought and even then the market did not rally till after a June decline).
05-15-2018 04:58 PM
Last third is not only drought damaged, now waterlogged = more losses and damage to the ones that do still get harvested.
Arginine sellers are asking buyers to accept poor quality bean meal.
Ours are nowhere close to harvest, many still in proboxes.
Must be nice to live and farm somewhere you know before they emerge how many you'll have to sell.
05-15-2018 08:35 PM
Kind of agree with roaring. It is a long marketing season for beans and we are in the first third of it.
If corn keeps working up and basis keeps improving------- and we keep selling in the decent $4+ numbers ----- we will be soybean binners again.
The market has shown us a little opportunity to price around $10 or just below.......... Is that screaming?
Maybe your saying the market is screaming "that will look good if beans go to $3.
I am not sure I can lock in a profit at that price..... so my banker is not screaming........... yet..
So the storage marketing says it is early. Have offers in at $11.20 in case we get the inflation that the fed is expecting.
05-15-2018 10:26 PM
I hedged soybeans some time ago. I'd be willing to sell more if the market goes up.
On corn, I have some sale offers in but am not very anxious yet. Corn could have some upside. The corn soybean ratio is about 2.5:1, so one supposes that if corn goes up it might drag soybeans with it - therefore may there will be more chances to sell soybean.
I wouldn't say there won't be another chance to sell soybeans at good money, but I'm happy with what I have on the books now.