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Manitoba | We have prepaid our 2011 nitrogen and have it in storage on our farm, what I'm concerned about is our nitrogen needs for the 2012 crop, as we would usually fill up in summer of 2011 for 2012 crop, in the summer of 2011 we will likely still have pretty strong grain prices supporting the price of N. I guess maybe I should avoid the summer fill program next year and hope by spring of 2012 it has dropped off abit, thats what happened last time grain prices rose, summer fill was 75 cents/lb and by spring we were down to 60 cents. prebuying doesn't always pay I guess, just like forward selling grain sometimes does!! | |
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hedging nitrogen cost?
