The next report

[roarintiger1]

So, we have one of the most important USDA reports of the year coming up next week. What are your predictions for the numbers and are you selling before the report?

I am seriously thinking of completing my old crop sales before this, but not selling any more new crop at this time. 

What are your thoughts?

[Hobbyfarmer]

I'm in the same quandary situation as you.

Corn with a 6 as the first # is pretty rarified air.

How many beans over the course of our farming career have we had the chance of $14 something?

No matter what I will not need the bin space this year as I went 72% beans.

Is income tax a concern?

Need the revenue?

All is not lost in Iowa, at least not yet by a long shot.

[Hobbyfarmer]

Thursday Iowa and on east gets drowned.

Rain makes grain except on river bottoms.

Still have some water on mine from Sat/Sun drenching.

Some interesting comments and observations...

https://us11.campaign-archive.com/?u=8d3c6770418c4ea65287a7768&id=b9acecbd40

[timetippingpt]

Clearly Nassy will find the 4 mil acres they lost in March. In SE-IN lots of crops planted in early June, but not one acre of PP because the ins guarantee and the price are so much better than PP this year. Very different from the last 5 years. All of the NW got planted due to the dryness. So that is an easy one to predict......maybe too easy frankly...usually get burned if  you expect nassy to get it right.

We are just using the tools available to put a floor in for the 2022 and most of the 2023 and we'll just grow it and see how it works out. Locking in $1,000 an acre revenue makes it awfully tough to screw it up. I have a unique ability to screw things up, but it is a comforting floor to have in place, plus we have unlimited flexibility and no margin calls to worry about. 

jmo but seldom is doing nothing till next summer work 2 years in a row.