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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: 80% sold 2019 crop: 30% sold via hedge-to-arrive contracts for harvest delivery |
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Hedgers -- cash sales
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2018 crop: 80% sold 2019 crop: 30% sold via hedge-to-arrive contracts for harvest delivery |
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Hedgers - futures/options
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No positions |
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Wait on the rally to show signs of stalling before advancing old- and new-crop sales. |
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Soybeans |
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| Cash-only marketers |
2018 crop: 75% sold |
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Hedgers -- cash sales
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2018 crop: 75% 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 another 15% of 2018-crop in the cash market if July futures hit $9.25. |
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Wheat |
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| Cash-only marketers |
2018 crop: 100% sold |
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Hedgers -- cash sales
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2018 crop: 100% 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 another 10% of 2019-crop in the cash market if July SRW futures hit $5.60. |
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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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| You should have a standing order to sell 15% of 2018-crop in the cash market if December futures hit 67.25 cents. You also should have a standing order to sell another 15% of 2018-crop in the cash market if December cotton futures hit 71.90 cents. | ||
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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% | |
| Futures are undervalued. Wait on a strong price recovery before considering hedges. | ||
| 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 as futures are now undervalued relative to the cash market. |
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Feed |
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| Corn |
2nd qtr. 2019 |
Coverage in cash through August. |
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3rd qtr. 2019 |
Cash and hedge coverage through August. | |
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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 mid-July and long hedges at $4.58 in December corn futures covering remaining needs through August. | ||
| Meal |
2nd qtr. 2019 |
Coverage in cash through mid-July. |
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3rd qtr. 2019 |
Coverage in cash through mid-July. | |
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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 mid-July. You should wait on a pullback from the strong rally to extend coverage. |
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Pro Farmer's Daily Advice Monitor
Posted on 06/25/2019 1:45 PM
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