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Georgetown, Kentucky | Hi senior citizen and others, I have been reading your emials and posts, and took the futures class in college, but i cant for the life of me read anything in the posts or email about what you would do- buy, sell, or wait on the 2010 corn and bean crops. I suspect i dont have enough knowlegde techinical or otherwise to understand what you guys are talking about.
My situation is- i have a full time job- i farm part time.
I raise tobacco as the main moneymaker- that i understand, know, and can control risk wise.
I will have about 185 acres of row crop this year- almost 35 of that will be fresh ground out of saod that will go to corn another 50 will go to corn on corn, 80 beans 20 doublecrop beans. everything no till
i am 29, this is all my money in the game, i have never bought crop insurance. i own all my own equipment (almost everything is older than i am) i pay for trucking when the basis difference merits going somewhwere other than local
i am thinking on the beans i may go entirely non gmo- last year the local premium was very, very good.
the corn can go to a local buyer at a decent basis.
last year the av was 200 bu on corn- not normal for here- normal is 160ish in a good year. beans normally 45-55
i am doing my crop budgets like normal- planning on the high side for everything
the profit margins are very thin now at current prices- even after the slip the profit has really dropped.
i have nothing contracted for the fall
if you where in my shoes, what would you do? and if contracting how much or wait? i am a little on the risk adverse side.
(i have contacted a local crop insurance guy today- the last crop this big in my area was 1982, 1983 was the worst drought in mine and my fathers lifetime- just something i have thought about) | |
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Senior Citizen and other- what do i do?
