Pro Farmer's Daily Advice Monitor

Posted on 12/13/2019 1:13 PM
advice

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  • Dec. 13: Standing order hit to sell more 2019-crop cotton. Details below. 

  • Dec. 12: No changes. 

  • Dec. 11: No changes. 

  • Dec. 10: No changes. 

  • Dec. 9: No changes. 

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

 
Corn
Cash-only marketers

2019 crop: 50% sold via hedge-to-arrive contracts for harvest delivery

Hedgers -- cash sales

 

2019 crop: 50% sold via hedge-to-arrive contracts for harvest delivery

Hedgers - futures/options

 

No positions

 

We intend to wait on an extended price recovery to increase 2019-crop sales and to start 2020-crop sales. 


Soybeans
Cash-only marketers

2019 crop: 40% sold via HTAs for harvest delivery

Hedgers -- cash sales

 

2019 crop: 50% sold via HTAs for harvest delivery

Hedgers - futures/options

 

No positions

We will wait on the push to the upside to exhaust before increasing 2019-crop sales. Be prepared to make initial 2020-crop sales on the next price rally. 


Wheat
Cash-only marketers

2019 crop: 60% sold

2020 crop: 10% forward-sold via HTAs for harvest delivery

Hedgers -- cash sales

 

2019 crop: 60% sold 

2020 crop: 10% forward-sold via HTAs for harvest delivery

Hedgers - futures/options

 

No positions 

Wait on the next leg higher to increase old- and new-crop sales.  


Cotton
Cash-only marketers

2019 crop: 65% sold

Hedgers -- cash sales

 

2019 crop: 65% sold

Hedgers - futures/options

 

No positions

On Dec. 13, March cotton futures hit our standing order at 67.50 cents to sell another 10% of 2019-crop in the cash market. Get current with sales.

Livestock
Cattle

4th qtr. 2019

0%

1st qtr. 2020

0%

2nd qtr. 2020

0%

3rd qtr. 2020

0%
Carry all risk in the cash market until futures signal the rally has run out of steam. 
Hogs

4th qtr. 2019

0%

1st qtr. 2020

0%

2nd qtr. 2020

0%

3rd qtr. 2020

0%

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. 


Feed
Corn

4th qtr. 2019

0%

1st qtr. 2020

0%

2nd qtr. 2020

0%

3rd qtr. 2020

0%
You should be hand-to-mouth on feed needs until prices show signs of bottoming.  
Meal

4th qtr. 2019

Coverage in the cash market through mid-January.

1st qtr. 2020

Coverage in the cash market through mid-January.

2nd qtr. 2020

0%

3rd qtr. 2020

0%

You should have all soybean meal needs covered in the cash market through mid-January. 

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