Pro Farmer's Daily Advice Monitor

Posted on 12/10/2018 1:41 PM
advice

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  • Dec. 10: No changes. 

  • Dec. 7: No changes. 

  • Dec. 6: No changes. 

  • Dec. 5: Exit fourth quarter fed cattle hedges. Details below. 

  • Dec. 4: No changes. 

*Note: Check below daily to see if we recommend catch-up sales for individual markets. 

 
Corn
Cash-only marketers

2018 crop: 25% sold

Hedgers -- cash sales

 

2018 crop: 25% sold

Hedgers - futures/options

 

No positions

 

Get current with advised sales. We'll wait on higher prices before advancing 2018-crop sales. We are targeting a challenge of the July highs for additional sales. 


Soybeans
Cash-only marketers

2018 crop: 40% sold
2019 crop: 10% sold via HTAs for harvest delivery

Hedgers -- cash sales

 

2018 crop: 40% sold
2019 crop: 10% sold via HTAs for harvest delivery

Hedgers - futures/options

 

35% hedge in July soybean futures at $8.96.

Get current with advised sales. A challenge of the July high would likely be enough to encourage additional sales.  


Wheat
Cash-only marketers

2018 crop: 55% sold
2019 crop: 15% sold

Hedgers -- cash sales

 

2018 crop: 65% sold
2019 crop: 15% sold 

Hedgers - futures/options

 

No positions

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.


Cotton
Cash-only marketers

2018 crop: 50% sold

Hedgers -- cash sales

 

2018 crop: 50% sold

Hedgers - futures/options

 

No positions

Get current with advised sales. We are targeting the 82.00 cent level in March futures for additional sales. Defensive hedges could be added on violation of the October lows. 

Livestock
Cattle

4th qtr. 2018

0%

1st qtr. 2019

0%

2nd qtr. 2019

0%

3rd qtr. 2019

0%
Fed cattle producers have exited all hedge coverage. Carry all risk in the cash market for now. 
Hogs

4th qtr. 2018

0%

1st qtr. 2019

0%

2nd qtr. 2019

0%

3rd qtr. 2019

0%

Continue to carry all risk in the cash market. We'll wait on signs of futures topping before adding 2019 hedge coverage. 


Feed
Corn

4th qtr. 2018

Coverage in cash through mid-January.

1st qtr. 2019

Coverage in cash through mid-January.

2nd qtr. 2019

0%

3rd qtr. 2019

0%
You should have all corn-for-feed needs covered in the cash market through mid-January. We'll extend coverage deeper into winter on a price pullback.
Meal

4th qtr. 2018

Coverage in cash through mid-January.

1st qtr. 2019

Coverage in cash through mid-January.

2nd qtr. 2019

0%

3rd qtr. 2019

0%

You should have all soybean meal needs covered in the cash market through mid-January. We'll extend coverage deeper into winter on a price pullback. 

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