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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 a standing order to sell 15% of 2018-crop in the cash market if March corn futures hit $3.94 and an order to sell 10% of expected 2019-crop via hedge-to-arrive contracts for harvest delivery if December corn futures hit $4.13. Get current with advised sales when March futures are above $3.80. |
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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 March soybean futures hit $9.35 and to sell another 10% if futures hit $9.59. 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: 55% 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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Wait to get current with 2018-crop sales. We are willing to wait on a price recovery to the $5.60 level in March SRW futures before selling more 2018-crop bushels. Additional 2019-crop sales would come at the same time. |
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Cotton |
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| Cash-only marketers |
2018 crop: 50% sold |
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Hedgers -- cash sales
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2018 crop: 50% sold |
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Hedgers - futures/options
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No positions |
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| Wait on an extended correction to get current with advised sales. We'll also reevaluate the need for hedges after a correction. | ||
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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 carry all risk in the cash market for now as futures and the cash market are trending higher. | ||
| 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. We feel traders removed too much premium on the recent price pullback. |
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Feed |
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| Corn |
1st qtr. 2019 |
Coverage in cash through March. |
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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 all corn-for-feed needs covered in the cash market through the end of March. Our target for extending coverage into spring would be a drop below $3.80 in May corn futures. | ||
| Meal |
1st qtr. 2019 |
Coverage in cash through March. |
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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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You should have all soybean meal needs covered in the cash market through the end of March. Our target for extending coverage into spring would be a drop to the $305 level in May futures. |
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Pro Farmer's Daily Advice Monitor
Posted on 02/13/2019 12:27 PM
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