Pro Farmer's Daily Advice Monitor

Posted on 03/03/2021 1:30 PM

advice

Receive advice alerts via text message. Call 1-888-582-9212 to learn more.

  • March 3: No changes.
  • March 2: No changes.
  • March 1: No changes.
  • Feb. 26: No changes.
  • Feb. 25: Order hit for 2020-crop cotton sales. Make 2021-crop cotton sales, too. Details below. 

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

Corn

Cash-only marketers

2020 crop: 80% sold

2021 crop: 20% forward sold for harvest delivery 

Hedgers — cash sales

2020 crop: 80% sold

2021 crop: 20% forward sold for harvest delivery 

Hedgers — futures/options

No positions

Get current with advised 2020- and 2021-crop sales. We'll likely hold remaining 2020-crop inventories into at least spring, unless there are signs of a major top.

Soybeans

Cash-only marketers

2020 crop: 90% sold

2021 crop: 20% forward sold for harvest delivery 

Hedgers — cash sales

2020 crop: 90% sold

2021 crop: 20% forward sold for harvest delivery 

Hedgers — futures/options

No positions

Get current with advised 2020- and 2021-crop sales. 

Wheat

Cash-only marketers

2020 crop: 85% sold 

2021 crop: 30% forward contracted for harvest delivery

Hedgers — cash sales

2020 crop: 95% sold

2021 crop: 30% forward contracted for harvest delivery

Hedgers — futures/options

No positions

Get current with advised sales. We'll likely wait until we know more about the winter wheat crop coming out of dormancy and spring wheat acreage before making additional sales. 

Cotton

Cash-only marketers

2020 crop: 90% sold

2021 crop: 40% forward sold for harvest delivery 

Hedgers — cash sales

2020 crop: 90% sold

2021 crop: 40% forward sold for harvest delivery 

Hedgers — futures/options

No position

Get current with advised old- and new-crop sales. 

Livestock

Cattle

1st qtr. 2021

0%

2nd qtr. 2021

0%

3rd qtr. 2021

0%

4th qtr. 2021

0%

Carry all risk in the cash market for now. 

Hogs

1st qtr. 2021

0%

2nd qtr. 2021

25% in April at $89.425

3rd qtr. 2021

25% in July at $95.375

4th qtr. 2021

0%

Get current with advised hedges. Be prepared to extend hedge coverage on additional price strength. 

Feed

Corn

1st qtr. 2021

67%

2nd qtr. 2021

0%

3rd qtr. 2021

0%

4th qtr. 2021

0%

You should are hand-to-mouth on corn-for-feed needs for now. We are looking to extend coverage if May futures drop to $5.25 or lower.

Meal

1st qtr. 2021

67%

2nd qtr. 2021

0%

3rd qtr. 2021

0%

4th qtr. 2021

0%

You should are hand-to-mouth on corn-for-feed needs for now. We are looking to extend coverage if May futures drop to the $400 level. We would likely also extend coverage if futures show signs of bouncing from the January lows. 

 

Add new comment