Pro Farmer's Daily Advice Monitor

Posted on 04/03/2020 1:56 PM
advice

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

  • April 3: No changes.

  • April 2: No changes. 

  • April 1: No changes. 

  • March 31: No changes. 

  • March 30: 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 

Hedgers -- cash sales

 

2019 crop: 50% sold 

Hedgers - futures/options

 

No positions

 

You should have a standing order to sell another 15% of 2019-crop in the cash market if May futures hit $3.75. Also be prepared to make initial 2020-crop sales. We may add defensive hedges if May futures violate support at $3.32.


Soybeans
Cash-only marketers

2019 crop: 50% sold

Hedgers -- cash sales

 

2019 crop: 50% sold 

Hedgers - futures/options

 

No positions

You should have a standing order to sell another 10% of 2019-crop in the cash market if May futures hit $8.92. We don't want to make initial 2020-crop sales below the spring crop insurance price level of $9.17. Futures have rolled over, which may lead to short-term defensive hedges. 


Wheat
Cash-only marketers

2019 crop: 90% sold

2020 crop: 30% forward-sold via HTAs for harvest delivery

Hedgers -- cash sales

 

2019 crop: 90% sold 

2020 crop: 30% forward-sold via HTAs for harvest delivery

Hedgers - futures/options

 

No positions 

 With old-crop gambling stocks down to 10%, we will be selective with additional sales. Also, wait on additional new-crop sales at this time. 


Cotton
Cash-only marketers

2019 crop: 65% sold

Hedgers -- cash sales

 

2019 crop: 65% sold

Hedgers - futures/options

 

No positions

Wait on an extended price recovery to make sales. We'll reevaluate market conditions after the coronavirus situation settles.

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 for now with futures sharply below the cash market. 
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. Be prepared to hedge the next corrective move higher.


Feed
Corn

2nd qtr. 2020

Coverage in the cash market through May.

3rd qtr. 2020

0%

4th qtr. 2020

0%

1st qtr. 2021

0%
You should have all corn-for-feed needs covered in the cash market through the end of May.  
Meal

2nd qtr. 2020

Coverage in the cash market through mid-April.

3rd qtr. 2020

0%

4th qtr. 2020

0%

1st qtr. 2021

0%

You should have all soybean meal needs covered in the cash market through mid-April. Be prepared to extend coverage on the price pullback. 

Add new comment