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Baldwin City, KS | My brother and I are young farmers. In the three years that we have been trying to make a go of it, we have pretty much concentrated on our production skills in an effort to build a good reputation. Unfortunately, I have really drug my feet when it comes to learning about marketing. No ones fault but my own. I have been meaning to get my ducks in a row and get comfortable with forward contracting, but for some reason I have'nt made it a priority. Needless to say, the markets reaction to the latest acreage report really has gotten my attention.
I'm just wondering, should a guy be jumping on these prices in fear that they could be below $3 by harvest, or is that exactly what they are after. I've talked to guys my dad's age that don't make an effort to forward price their grain. That doesn't make it right, but I'm wondering just how many people don't forward contract. And last, if I don't forward contract any corn and the prices dip on down, what are the chances of a price rally later on if I store my corn at least until the banker gets after me.
I haven't gotten on this page before, but it looks like you guys carry on some pretty useful and intelligent discussion. Your thoughts would be appreciated. By the way, I'm paying attention. | |
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You have my full attention.
