Pro Farmer's Daily Advice Monitor

Posted on 06/25/2019 1:45 PM
advice

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  • June 25: No changes. 

  • June 24: Old-crop cotton sales orders rolled to December futures. Details below. 

  • June 21: No changes. 

  • June 20: No changes. 

  • June 19: New sales order entered for 2018-crop cotton. Details below. 

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

 
Corn
Cash-only marketers

2018 crop: 80% sold

2019 crop: 30% sold via hedge-to-arrive contracts for harvest delivery

Hedgers -- cash sales

 

2018 crop: 80% sold

2019 crop: 30% sold via hedge-to-arrive contracts for harvest delivery

Hedgers - futures/options

 

No positions

 

Wait on the rally to show signs of stalling before advancing old- and new-crop sales.


Soybeans
Cash-only marketers

2018 crop: 75% sold
2019 crop: 30% sold via HTAs for harvest delivery

Hedgers -- cash sales

 

2018 crop: 75% sold
2019 crop: 40% sold via HTAs for harvest delivery

Hedgers - futures/options

 

No positions

You should have a standing order to sell another 15% of 2018-crop in the cash market if July futures hit $9.25.


Wheat
Cash-only marketers

2018 crop: 100% sold
2019 crop: 25% sold

Hedgers -- cash sales

 

2018 crop: 100% sold
2019 crop: 25% sold 

Hedgers - futures/options

 

No positions 

You should have a standing order to sell another 10% of 2019-crop in the cash market if July SRW futures hit $5.60.  


Cotton
Cash-only marketers

2018 crop: 70% sold

2019 crop: 35% sold

Hedgers -- cash sales

 

2018 crop: 70% sold

2019 crop: 35% sold

Hedgers - futures/options

 

No positions

You should have a standing order to sell 15% of 2018-crop in the cash market if December futures hit 67.25 cents. You also should have a standing order to sell another 15% of 2018-crop in the cash market if December cotton futures hit 71.90 cents. 

Livestock
Cattle

1st qtr. 2019

0%

2nd qtr. 2019

0%

3rd qtr. 2019

0%

4th qtr. 2019

0%
Futures are undervalued. Wait on a strong price recovery before considering hedges. 
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 as futures are now undervalued relative to the cash market. 


Feed
Corn

2nd qtr. 2019

Coverage in cash through August.

3rd qtr. 2019

Cash and hedge coverage through August. 

4th qtr. 2019

0%

1st qtr. 2020

0%
You should have all corn-for-feed needs covered in the cash market through mid-July and long hedges at $4.58 in December corn futures covering remaining needs through August. 
Meal

2nd qtr. 2019

Coverage in cash through mid-July.

3rd qtr. 2019

Coverage in cash through mid-July.

4th qtr. 2019

0%

1st qtr. 2020

0%

You should have all soybean meal needs covered in the cash market through mid-July. You should wait on a pullback from the strong rally to extend coverage. 

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