 Receive advice alerts via text message. Call 1-888-582-9212 to learn how. |
||
*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 rolled our standing order to sell more old-crop corn tot he May contract. You should have a standing order to sell 15% of 2018-crop in the cash market if May corn futures hit $3.90. You should also have an order to sell 10% of expected 2019-crop via hedge-to-arrive contracts for harvest delivery if December corn futures hit $4.13. Get current with advised sales when May futures are above $3.85. |
||
|
Soybeans |
||
| Cash-only marketers |
2018 crop: 40% sold |
|
|
Hedgers -- cash sales
|
2018 crop: 40% sold |
|
|
Hedgers - futures/options
|
35% hedge in July soybean futures at $8.96. |
|
|
We rolled our standing order to sell more old-crop soybeans to the May contract. You should have standing orders to sell 10% of 2018-crop if May soybean futures hit $9.50 and to sell another 10% if futures hit $9.74. You should also have standing orders to sell 10% of expected 2019-crop via hedge-to-arrive contracts for harvest delivery if November futures hit $9.75 and to sell another 10% via HTAs for harvest delivery if futures hit $10.00. |
||
|
Wheat |
||
| Cash-only marketers |
2018 crop: 55% sold |
|
|
Hedgers -- cash sales
|
2018 crop: 65% sold |
|
|
Hedgers - futures/options
|
No positions |
|
|
We lowered our target for selling more old-crop wheat to $5.25 in May SRW futures. Wait on a price recovery to get current with 2018-crop sales. Additional 2019-crop sales would come at the same time. |
||
|
Cotton |
||
| Cash-only marketers |
2018 crop: 50% sold |
|
|
Hedgers -- cash sales
|
2018 crop: 50% sold |
|
|
Hedgers - futures/options
|
No positions |
|
| Wait on an extended correction to get current with advised sales. We are targeting a rebound to the 76.00 cent mark to increase old-crop sales. | ||
|
Livestock |
||
| Cattle |
1st qtr. 2019 |
0% |
|
2nd qtr. 2019 |
0% | |
|
3rd qtr. 2019 |
0% | |
|
4th qtr. 2019 |
0% | |
| Fed cattle producers should carry all risk in the cash market for now as futures and the cash market are trending higher. Be prepared to add second-quarter hedges on signs of a market top. | ||
| Hogs |
1st qtr. 2019 |
0% |
|
2nd qtr. 2019 |
0% | |
|
3rd qtr. 2019 |
0% | |
|
4th qtr. 2019 |
0% | |
|
Continue to carry all risk in the cash market. We feel the downside is overdone. |
||
|
Feed |
||
| Corn |
1st qtr. 2019 |
Coverage in cash through mid-April. |
|
2nd qtr. 2019 |
Coverage in cash through mid-April. | |
|
3rd qtr. 2019 |
0% | |
|
4th qtr. 2019 |
0% | |
| On Feb. 20, we extended corn-for-feed coverage another two weeks in the cash market through mid-April. | ||
| Meal |
1st qtr. 2019 |
Coverage in cash through March. |
|
2nd qtr. 2019 |
0% | |
|
3rd qtr. 2019 |
0% | |
|
4th qtr. 2019 |
0% | |
|
You should have all soybean meal needs covered in the cash market through the end of March. Our target for extending coverage into spring would be a drop to the $305 level in May futures. |
||
Pro Farmer's Daily Advice Monitor
Posted on 02/20/2019 12:37 PM
Add new comment