Pro Farmer's Daily Advice Monitor

Posted on 10/18/2018 1:31 PM
advice

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  • Oct. 18: No changes. 

  • Oct. 17: Extend corn and soybean meal coverage. Details below. 

  • Oct. 16: Increase 2018-crop bean sales by 5%. Details below.

  • Oct. 15: No changes.

  • Oct. 12: Claim profits on 10% 2018-crop hedges December cotton futures. Details below.

*Note: Check below daily to see if we recommend catch-up sales for individual markets. 

 
Corn
Cash-only marketers

2018 crop: 25% sold

Hedgers -- cash sales

 

2018 crop: 25% sold

Hedgers - futures/options

 

No positions

 

We'll wait on higher prices before advancing 2018-crop sales. We are targeting a challenge of the July highs for additional sales. 


Soybeans
Cash-only marketers

2018 crop: 25% sold

Hedgers -- cash sales

 

2018 crop: 25% sold

Hedgers - futures/options

 

No positions

We are targeting the $9.10 to $9.30 level in January futures for advancing 2018-crop sales. We'd like to get another 25% of 2018-crop sold in this range. 


Wheat
Cash-only marketers

2018 crop: 55% sold
2019 crop: 15% sold

Hedgers -- cash sales

 

2018 crop: 65% sold
2019 crop: 15% sold 

Hedgers - futures/options

 

No positions

Wait to get current with 2018-crop sales. We are willing to wait on a price recovery to the $5.50 level in December SRW futures before selling more 2018-crop bushels. Additional 2019-crop sales would come at the same time.


Cotton
Cash-only marketers

2018 crop: 40% sold

Hedgers -- cash sales

 

2018 crop: 40% sold

Hedgers - futures/options

 

No positions

We are targeting the 80.00-cent level in December cotton futures for additional sales and/or hedges. 

Livestock
Cattle

4th qtr. 2018

25%

1st qtr. 2019

0%

2nd qtr. 2019

0%

3rd qtr. 2019

0%
Fed cattle producers have 25% of expected fourth-quarter production hedged in December live cattle futures at $117.675. 
Hogs

4th qtr. 2018

0%

1st qtr. 2019

0%

2nd qtr. 2019

0%

3rd qtr. 2019

0%

Continue to carry all risk in the cash market. We believe there's too much discount to the cash market built into the December contract. 


Feed
Corn

4th qtr. 2018

Coverage in cash through December.

1st qtr. 2019

0%

2nd qtr. 2019

0%

3rd qtr. 2019

0%
You should have all corn-for-feed needs covered in the cash market through December. 
Meal

4th qtr. 2018

Coverage in cash through mid-December

1st qtr. 2019

0%

2nd qtr. 2019

0%

3rd qtr. 2019

0%

You should have all soybean meal needs covered in the cash market through mid-December.  

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