Pro Farmer's Daily Advice Monitor

Posted on 02/25/2020 1:35 PM
advice

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  • Feb. 25: Extend corn-for-feed and soybean meal coverage. Details below.

  • Feb. 24: No changes. 

  • Feb. 21: No changes. 

  • Feb. 20: No changes. 

  • Feb. 19: Roll the standing sales order for old-crop corn to May futures. Details below.

*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 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. 


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 $9.40. Also be prepared to make initial 2020-crop sales if that order is hit. Cancel the previous order in March futures. 


Wheat
Cash-only marketers

2019 crop: 80% sold

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

Hedgers -- cash sales

 

2019 crop: 80% sold 

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

Hedgers - futures/options

 

No positions 

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.  


Cotton
Cash-only marketers

2019 crop: 65% sold

Hedgers -- cash sales

 

2019 crop: 65% 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 74.50 cents. We'll also make new-crop sales when the old-crop order is hit. 

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. We may add short-term defensive hedges if recent lows don't hold. 
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. We may add short-term defensive hedges if recent lows don't hold. 


Feed
Corn

1st qtr. 2020

Coverage in the cash market through mid-April.

2nd qtr. 2020

Coverage in the cash market through mid-April.

3rd qtr. 2020

0%

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.

2nd qtr. 2020

Coverage in the cash market through mid-April.

3rd qtr. 2020

0%

4th qtr. 2020

0%

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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