Sometimes old advice is good advice.  I broke out of the closet to sell 10% more of this year's corn today and am now approx 85% sold.  I feel I should head back to the closet to regroup.  I decided to make a list of reasons to sell and this is what I came up with.

1. USDA's next crop report.  I just don't trust it is agenda-neutral.  It was reported this week that USDA officials were meeting in chicago with industry insiders (aka not farmers) to discuss the negative reprocussions of the last Crop report.

2. Elevator DP contract.  Can't stand the thought of paying someone "storage" to take a loan from me. 

3. Counterparty risk  (goes with #2)

4. Interest accruing at bank.

5. 5.01 corn (-70c basis)  still....  5$ corn

6. I can't honestly say that I'd be willing to purchase a corn contract on the CBOT, so I can't say I'm bullish enough to put my money where my mouth is.

7. I can forward contract for next year if we see a repeat of 2008

8. Bird in the hand is worth two in the bush

Harvest is not done yet here, and I am sure wishing I had some bins to put the overrun.  I should be feeling great that I'm selling corn at harvest for $5 and not $3 but It's hard not to second-guess oneself.

Is anyone else sweating the decision to pull the trigger?  Anyone have other axioms that they follow?

Edit to add: my last sale of 10% was on oct 11 at $5, so local price hasn't really improved since then.