@roarintiger1 wrote:
It will be very hard to sell what you don't have..................There are folks that thought they were 40% sold and now they are looking at being close to 100% sold...... They could always sell '13s crop.....but they don't have that yet either.
BTW, if folks sold on the way back down, it will still be much higher than what was sold earlier this year.
There's this little thing called crop insurance with havest price option. That's what allows people like myself and plenty of others to sell ahead. It really seems a lot of people don't understand how that works. As long as we don't go too far north of $11.00 ($11.36) I'm most likely out nothing if I come up a little short on bushels.
Far from this "oh my gosh, you can't sell what you don't have" crap. Yes you can. I'd much rather raise a normal crop obviously and have for a long, long time. It doesn't make sense to assume you're going to have a weather disaster and market that way accordingly. Hindsight is lovely though isn't it. 🙂
As far as the selling on the way down goes? It depends on how long they wait and how high we go. I sold a lot of corn for this fall at $6.00 last sumer. That's not all bad. In fact, it would look brilliant if we weren't in the mother of all weather markets. Again, I can't predict weather but I do know I've sold for profits I could have only dreamed of a few short years ago.
I would bet a lot of people will wait way too long on the way down.
