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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 |
2019 crop: 50% sold |
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Hedgers -- cash sales
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2019 crop: 50% 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 increase 2019-crop sales by 10% in the cash market if May futures hit $4.01. Also be prepared to make initial 2020-crop sales. |
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Soybeans |
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| Cash-only marketers |
2019 crop: 50% sold |
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Hedgers -- cash sales
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2019 crop: 50% 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 May futures hit $9.40. Also be prepared to make initial 2020-crop sales if that order is hit. Cancel the previous order in March futures. |
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Wheat |
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| Cash-only marketers |
2019 crop: 80% sold 2020 crop: 30% forward-sold via HTAs for harvest delivery |
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Hedgers -- cash sales
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2019 crop: 80% sold 2020 crop: 30% forward-sold via HTAs for harvest delivery |
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Hedgers - futures/options
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No positions |
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Get current with advised old- and new-crop sales. We want to give the market a chance to reach a "6" handle before increasing old-crop sales. |
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Cotton |
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| Cash-only marketers |
2019 crop: 65% sold |
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Hedgers -- cash sales
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2019 crop: 65% 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 15% of 2019-crop in the cash market if May futures hit 74.50 cents. We'll also make new-crop sales when the old-crop order is hit. | ||
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Livestock |
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| Cattle |
4th qtr. 2019 |
0% |
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1st qtr. 2020 |
0% | |
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2nd qtr. 2020 |
0% | |
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3rd qtr. 2020 |
0% | |
| Carry all risk in the cash market for now. We may add short-term defensive hedges if recent lows don't hold. | ||
| Hogs |
4th qtr. 2019 |
0% |
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1st qtr. 2020 |
0% | |
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2nd qtr. 2020 |
0% | |
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3rd qtr. 2020 |
0% | |
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Continue to carry all risk in the cash market. We may add short-term defensive hedges if recent lows don't hold. |
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Feed |
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| Corn |
1st qtr. 2020 |
Coverage in the cash market through mid-April. |
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2nd qtr. 2020 |
Coverage in the cash market through mid-April. | |
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3rd qtr. 2020 |
0% | |
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4th qtr. 2020 |
0% | |
| On Feb. 25, we advised extending corn-for-feed coverage another two weeks in the cash market to take advantage of the sharp price break. We'll wait on signs of a low before further extending covering. | ||
| Meal |
1st qtr. 2020 |
Coverage in the cash market through mid-April. |
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2nd qtr. 2020 |
Coverage in the cash market through mid-April. | |
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3rd qtr. 2020 |
0% | |
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4th qtr. 2020 |
0% | |
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On Feb. 25, we advised extending soybean meal coverage another two weeks in the cash market to take advantage of the sharp price break. We'll wait on signs of a low before further extending covering. |
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Pro Farmer's Daily Advice Monitor
Posted on 02/25/2020 1:35 PM
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