Receive advice alerts via text message. Call 1-888-582-9212 to learn how.
- May 22: No changes.
- May 21: No changes.
- May 20: Exit the 2020-crop wheat hedge. Add 2020-crop cotton hedges, cash sales. Details below.
- May 19: No changes.
- May 18: No changes.
*Note: Check below daily to see if we recommend catch-up sales for individual markets.
|
Corn |
||
|
Cash-only marketers |
2019 crop: 60% sold |
|
|
Hedgers — cash sales |
2019 crop: 50% sold |
|
|
Hedgers — futures/options |
2019-crop: 50% hedge in July futures at $3.28 1/2 with a stop close only order to exit at $3.31. 2020-crop: 50% hedge in December futures at $3.43 1/4 with a stop close only order to exit at $3.43. |
|
|
Hedgers should have all downside risk covered on 2019-crop. Cash-only marketers must wait on a price recovery to trim risk. Wait on an extended price rebound to make 2020-crop sales. |
||
|
Soybeans |
||
|
Cash-only marketers |
2019 crop: 70% sold |
|
|
Hedgers — cash sales |
2019 crop: 70% sold |
|
|
Hedgers — futures/options |
No positions |
|
|
A push above the $8.65 area in July futures would likely encourage us to recommend further trimming old-crop inventories. |
||
|
Wheat |
||
|
Cash-only marketers |
2019 crop: 100% sold 2020 crop: 30% forward-sold via HTAs for harvest delivery |
|
|
Hedgers — cash sales |
2019 crop: 100% sold 2020 crop: 30% forward-sold via HTAs for harvest delivery |
|
|
Hedgers — futures/options |
No positions |
|
|
Wait on the next extended price recovery to advance 2020-crop sales. |
||
|
Cotton |
||
|
Cash-only marketers |
2019 crop: 100% sold 2020 crop: 10% HTA for harvest delivery. |
|
|
Hedgers — cash sales |
2019 crop: 100% sold |
|
|
Hedgers — futures/options |
2020 crop: 25% hedge in December cotton futures at 58.94 cents. |
|
|
Get current with advised old- and new-crop marketings. |
||
|
Livestock |
||
|
Cattle |
2nd qtr. 2020 |
0% |
|
3rd qtr. 2020 |
0% |
|
|
4th qtr. 2020 |
0% |
|
|
1st qtr. 2021 |
0% |
|
|
Carry all risk in the cash market for now with futures sharply below the cash market. |
||
|
Hogs |
2nd qtr. 2020 |
0% |
|
3rd qtr. 2020 |
0% |
|
|
4th qtr. 2020 |
0% |
|
|
1st qtr. 2021 |
0% |
|
|
Continue to carry all risk in the cash market. Be prepared to hedge the next corrective move higher. |
||
|
Feed |
||
|
Corn |
2nd qtr. 2019 |
Coverage in the cash market through May. |
|
3rd qtr. 2020 |
0% |
|
|
4th qtr. 2020 |
0% |
|
|
1st qtr. 2021 |
0% |
|
|
You should have all corn-for-feed needs covered in the cash market through the end of May. |
||
|
Meal |
2nd qtr. 2020 |
Coverage in the cash market through May |
|
3rd qtr. 2020 |
0% |
|
|
4th qtr. 2020 |
0% |
|
|
1st qtr. 2021 |
0% |
|
|
You should have all soybean meal needs covered in the cash market through May. If prices drop more, we'll further extend coverage as current prices are a value buy. |
||
Add new comment