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*Note: Check below daily to see if we recommend catch-up sales for individual markets. |
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Corn |
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| Cash-only marketers |
2018 crop: 90% sold 2019 crop: 30% sold via hedge-to-arrive contracts for harvest delivery |
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Hedgers -- cash sales
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2018 crop: 90% sold 2019 crop: 30% sold via hedge-to-arrive contracts for harvest delivery |
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Hedgers - futures/options
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No positions |
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Hold the final 10% of 2018-crop as gambling stocks for now. We'll finish old-crop sales by the end of the marketing year on Aug. 31. |
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Soybeans |
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| Cash-only marketers |
2018 crop: 85% sold |
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Hedgers -- cash sales
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2018 crop: 85% sold |
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Hedgers - futures/options
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No positions |
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Hold the final 15% of 2018-crop as gambling stocks for now. You should have a standing order to sell the final 15% of 2018-crop in the cash market if September soybean futures hit $9.30. We'll finish 2018-crop sales by the Aug. 31 end of the 2018-19 marketing year. |
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Wheat |
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| Cash-only marketers |
2018 crop: 100% sold |
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Hedgers -- cash sales
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2018 crop: 100% sold |
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Hedgers - futures/options
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No positions |
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You should have a standing order to sell another 10% of 2019-crop in the cash market if September SRW wheat futures hit $5.65. Make sure you cancel the previous order that was in July SRW futures. |
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Cotton |
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| Cash-only marketers |
2018 crop: 100% sold 2019 crop: 35% sold |
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Hedgers -- cash sales
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2018 crop: 100% sold 2019 crop: 35% sold |
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Hedgers - futures/options
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No positions |
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| Wait on an extended price recovery for additional 2019-crop sales. | ||
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Livestock |
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| Cattle |
1st qtr. 2019 |
0% |
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2nd qtr. 2019 |
0% | |
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3rd qtr. 2019 |
0% | |
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4th qtr. 2019 |
0% | |
| Fed cattle producers should continue to carry all risk in the cash market, as futures are below the cash market and should strengthen the second half of the year. | ||
| Hogs |
1st qtr. 2019 |
0% |
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2nd qtr. 2019 |
0% | |
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3rd qtr. 2019 |
0% | |
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4th qtr. 2019 |
0% | |
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Continue to carry all risk in the cash market. |
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Feed |
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| Corn |
3rd qtr. 2019 |
Cash and hedge coverage through October. |
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4th qtr. 2019 |
0% | |
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1st qtr. 2020 |
0% | |
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2nd qtr. 2020 |
0% | |
| You should have all corn-for-feed needs covered in the cash market through the end of September. You should maintain the long hedges at $4.58 in December corn futures; we'll now consider that our coverage through October. | ||
| Meal |
3rd qtr. 2019 |
Coverage in cash market through September. |
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4th qtr. 2019 |
0% | |
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1st qtr. 2020 |
0% | |
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2nd qtr. 2020 |
0% | |
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You should have all soybean meal needs covered in the cash market through the end of September. Our next downside target for further extending soybean meal coverage is $290 in September futures. |
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Pro Farmer's Daily Advice Monitor
Posted on 08/16/2019 1:27 PM
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