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*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: 40% sold via hedge-to-arrive contracts for harvest delivery |
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Hedgers -- cash sales
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2019 crop: 40% sold via hedge-to-arrive contracts for harvest delivery |
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Hedgers - futures/options
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No positions |
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We will wait on the next rally before increasing 2019-crop sales. Be prepared to make initial 2020-crop sales. |
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Soybeans |
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| Cash-only marketers |
2019 crop: 40% sold via HTAs for harvest delivery |
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Hedgers -- cash sales
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2019 crop: 50% sold via HTAs for harvest delivery |
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Hedgers - futures/options
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No positions |
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We will wait on further price strength before increasing 2019-crop sales. Be prepared to make initial 2020-crop sales. |
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Wheat |
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| Cash-only marketers |
2019 crop: 60% sold 2020 crop: 10% forward-sold via HTAs for harvest delivery |
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Hedgers -- cash sales
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2019 crop: 60% sold 2020 crop: 10% forward-sold via HTAs for harvest delivery |
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Hedgers - futures/options
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No positions |
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On Oct. 17, our standing order at $5.20 in Dec. SRW wheat futures was hit, triggering a 20% 2019-crop sale. We also advised selling an initial 10% of expected 2020-crop production via hedge-to-arrive contracts for harvest delivery. |
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Cotton |
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| Cash-only marketers |
2019 crop: 45% sold |
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Hedgers -- cash sales
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2019 crop: 45% sold |
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Hedgers - futures/options
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No positions |
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| You should have a standing order to sell another 10% of 2019-crop in the cash market if December futures hit 65.45 cents. | ||
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Livestock |
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| Cattle |
4th qtr. 2019 |
25% |
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1st qtr. 2020 |
0% | |
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2nd qtr. 2020 |
0% | |
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3rd qtr. 2020 |
0% | |
| On Oct. 17, we advised fed cattle producers to hedge 25% of fourth-quarter production in December live cattle futures. Our entry was $114.05. | ||
| Hogs |
4th qtr. 2019 |
0% |
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1st qtr. 2020 |
0% | |
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2nd qtr. 2020 |
0% | |
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3rd qtr. 2020 |
0% | |
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Continue to carry all risk in the cash market. But be prepared for short-term defensive hedges given futures premium to cash if futures can't push above the spring/summer downtrend. |
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Feed |
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| Corn |
4th qtr. 2019 |
Cash and hedge coverage through mid-November. |
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1st qtr. 2020 |
0% | |
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2nd qtr. 2020 |
0% | |
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3rd qtr. 2020 |
0% | |
| You should have all corn-for-feed needs covered in the cash market through mid-November. You should maintain the long hedges at $4.58 in December corn futures; we'll now consider that our coverage through mid-December. | ||
| Meal |
4th qtr. 2019 |
Coverage in the cash market through mid-November. |
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1st qtr. 2020 |
0% | |
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2nd qtr. 2020 |
0% | |
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3rd qtr. 2020 |
0% | |
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You should have all soybean meal needs covered in the cash market through mid-November. Our next downside target for further extending soybean meal coverage is $303 in December futures. |
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Pro Farmer's Daily Advice Monitor
Posted on 10/17/2019 1:48 PM
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