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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: 25% sold |
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Hedgers -- cash sales
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2018 crop: 25% sold |
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Hedgers - futures/options
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No positions |
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You should have standing orders to sell 10% of 2018-crop in the cash market if May corn futures hit $3.73 and another 15% if the contract hits $3.80. You should also have an order to sell 10% of expected 2019-crop via hedge-to-arrive contracts for harvest delivery if December corn futures hit $4.00. You should cancel the previous old- and new-crop sales orders. |
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Soybeans |
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| Cash-only marketers |
2018 crop: 40% sold |
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Hedgers -- cash sales
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2018 crop: 40% sold |
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Hedgers - futures/options
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35% hedge in July soybean futures at $8.96. |
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You should have standing orders to sell 10% of 2018-crop if May soybean futures hit $9.30 and to sell another 20% if futures hit $9.49. You should cancel the previous old-crop sales orders. You should also have standing orders to sell 10% of expected 2019-crop via hedge-to-arrive contracts for harvest delivery if November futures hit $9.75 and to sell another 10% via HTAs for harvest delivery if futures hit $10.00. |
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Wheat |
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| Cash-only marketers |
2018 crop: 65% sold |
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Hedgers -- cash sales
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2018 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 15% of 2018-crop in the cash market if May SRW futures hit $4.73. Make sure all previous sales orders are canceled. |
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Cotton |
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| Cash-only marketers |
2018 crop: 70% sold 2019 crop: 35% sold |
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Hedgers -- cash sales
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2018 crop: 70% sold 2019 crop: 35% sold |
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Hedgers - futures/options
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No positions |
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| We are targeting the 80.00-cent or higher level to advance old-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% | |
| You should have a standing order at $123.45 in June live cattle futures to hedge 25% of second quarter production. | ||
| 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 until futures signal the upside is exhausted. |
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Feed |
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| Corn |
2nd qtr. 2019 |
Coverage in cash through May. |
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3rd qtr. 2019 |
0% | |
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4th qtr. 2019 |
0% | |
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1st qtr. 2020 |
0% | |
| You should have all corn-for-feed needs covered in the cash market through the end of May. We are targeting a drop to the $3.60 level in July futures for extending corn-for-feed coverage. | ||
| Meal |
2nd qtr. 2019 |
Coverage in cash through May. |
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3rd qtr. 2019 |
0% | |
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4th qtr. 2019 |
0% | |
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1st qtr. 2020 |
0% | |
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You should have all soybean meal needs covered in the cash market through the end of May. We are targeting a drop to the $305 level in July soymeal futures for extending our coverage. |
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Pro Farmer's Daily Advice Monitor
Posted on 04/18/2019 1:19 PM
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