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- July 9: No changes.
- July 8: Increase 2020-crop wheat sales. Increase 2020-crop cotton sales; exit cotton hedges. Details below.
- July 7: No changes.
- July 6: No changes.
- July 2: No changes.
*Note: Check below daily to see if we recommend catch-up sales for individual markets.
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Corn |
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Cash-only marketers |
2019 crop: 100% sold 2020 crop: 30% forward sold for harvest delivery |
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Hedgers — cash sales |
2019 crop: 90% sold 2020 crop: 30% forward sold for harvest delivery |
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Hedgers — futures/options |
2019-crop: 20% hedge in short December corn futures at $3.37 1/2 2020-crop: 20% hedge in short December corn futures at $3.37 1/2 |
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Use the strong price rally to make sure you are current with advised old- and new-crop sales. We intend to make more new-crop sales on additional price strength. |
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Soybeans |
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Cash-only marketers |
2019 crop: 95% sold 2020 crop: 20% forward sold for harvest delivery |
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Hedgers — cash sales |
2019 crop: 95% sold 2020 crop: 20% forward sold for harvest delivery |
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Hedgers — futures/options |
No positions |
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Use the strong price rally to make sure you are current with advised old- and new-crop sales. We intend to make more new-crop sales on additional price strength. |
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Wheat |
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Cash-only marketers |
2020 crop: 50% sold |
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Hedgers — cash sales |
2020 crop: 50% sold |
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Hedgers — futures/options |
20% 2020-crop hedge in short December SRW futures at $5.09 |
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Use the strong rally to get current with advised sales. We'll likely make additional sales when the rally shows signs of stalling. |
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Cotton |
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Cash-only marketers |
2019 crop: 100% sold 2020 crop: 30% forward sold for harvest delivery. |
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Hedgers — cash sales |
2019 crop: 100% sold 2020 crop: 30% forward sold for harvest delivery. |
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Hedgers — futures/options |
2020 crop: 25% hedge in December cotton futures at 58.94 cents. |
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Get current with advised sales and be prepared to make additional sales on further price strength. |
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Livestock |
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Cattle |
3rd qtr. 2020 |
0% |
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4th qtr. 2020 |
0% |
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1st qtr. 2021 |
0% |
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2nd qtr. 2021 |
0% |
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Carry all risk in the cash market for now. But with futures back above the cash market, an overdone price runup could present a hedging opportunity. |
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Hogs |
3rd qtr. 2020 |
0% |
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4th qtr. 2020 |
0% |
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1st qtr. 2021 |
0% |
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2nd qtr. 2021 |
0% |
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Continue to carry all risk in the cash market. Be prepared to hedge the next extended corrective move higher. |
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Feed |
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Corn |
3rd qtr. 2019 |
0% |
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4th qtr. 2020 |
0% |
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1st qtr. 2021 |
0% |
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2nd qtr. 2021 |
0% |
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You should be hand-to-mouth on corn-for-feed needs for now. We'll wait on the next price pullback before extending coverage beyond hand-to-mouth. |
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Meal |
3rd qtr. 2020 |
33% |
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4th qtr. 2020 |
0% |
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1st qtr. 2021 |
0% |
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2nd qtr. 2021 |
0% |
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You should have all soybean meal needs covered in the cash market through the end of July. We'll wait on the next price pullback before extending coverage. |
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