Pro Farmer's Daily Advice Monitor

Posted on 10/12/2018 1:30 PM
advice

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

  • Oct. 11: No changes. 

  • Oct. 10: No changes. 

  • Oct. 9: No changes. 

  • Oct. 8: No changes. 

*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: 20% sold

Hedgers -- cash sales

 

2018 crop: 20% sold

Hedgers - futures/options

 

No positions

We are targeting the $9.10 level in January futures for advancing 2018-crop sales. 


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

On Oct 12, we advised claiming profits on the 10% hedges held in December cotton futures. Our exit was 78.51 cents for a 2.61-cent profit. Wait on a stronger price recovery to get current with advised sales and to make new sales. 

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. While futures are showing signs of a short-term top, 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 November.

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 the end of November.
Meal

4th qtr. 2018

Coverage in cash through November. 25% hedge for  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 the end of November. You also have 25% of December meal needs hedged in December soybean meal futures.

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