Pro Farmer's Daily Advice Monitor

Posted on 05/07/2021 1:30 PM

advice

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  • May 7: No changes.
  • May 6: No changes.
  • May 5: No changes.
  • May 4: No changes.
  • May 3: No changes.

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

Corn

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. Hold remaining old-crop inventories as gambling stocks. 

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. Hold remaining old-crop inventories as gambling stocks. 

Wheat

Cash-only marketers

2020 crop: 100% sold 

2021 crop: 50% forward contracted for harvest delivery

Hedgers — cash sales

2020 crop: 100% sold

2021 crop: 50% forward contracted for harvest delivery

Hedgers — futures/options

No positions

Get current with advised old- and new-crop 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

Wait on a further price rebound to get current with advised old- and new-crop sales or to make additional sales. 

Livestock

Cattle

2nd qtr. 2021

0%

3rd qtr. 2021

0%

4th qtr. 2021

0%

1st qtr. 2022

0%

Carry all risk in the cash market for now. 

Hogs

2nd qtr. 2021

0%

3rd qtr. 2021

25% in July at $95.375

4th qtr. 2021

0%

1st qtr. 2022

0%

Be prepared to add to third-quarter hedges and possibly establish fourth-quarter hedges.  

Feed

Corn

2nd qtr. 2021

100%

3rd qtr. 2021

0%

4th qtr. 2021

0%

1st qtr. 2022

0%

You should have all corn-for-feed needs covered in the cash market through June. We will wait for a corrective price break to extend coverage. 

Meal

2nd qtr. 2021

100%

3rd qtr. 2021

33%

4th qtr. 2021

0%

1st qtr. 2022

0%

You should have all soybean meal needs covered in the cash market through June. You also have 50% of needs for July and August covered in the cash market. 

 

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