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East of Broken Bow | The last thing I would ever do is say I was a brilliant marketer, but I guess I did kind of get lucky this year.
I am a GBS person, except that I am not at all one to simply put grain in a bin until summer, and then sell it. Instead I think of a grain bin as a way to harvest, not to market. We are a LONG ways from an elevator, and as a one man show, I would harvest maybe 1/3 to 1/2 the bushels per day hauling to the elevator vs. putting it in my bin.
Once in the bin, I look to sell, and am not afraid to forward sell some bushels, using the bin to capture carry or basis improvements.
This year, I got lucky, I sold the carry on the board price, getting about 30 cents improvement compared to the current board price at the time. On top of that, I got really lucky and gained another 35 cents or so in basis improvements. I was holding out for $8 cash price on these bushels, but got nervous the basis could turn on me, and locked the price in at $7.95. IMO, the bins did me a nice service this year.
As for new crop corn, looking back I really should have forward sold some in January, but who knew this year was going to have prices work contrary to the 10 year average, and fall into planting season. Anyway, not panic time, as I have until next summer to set price, lots of time for it to either come back up, or fall to the basement, LOL.
Anyway, the point I was trying to make is that because someone has grain bins doesn't mean that the corn is just sitting in them unpriced in a falling market. I'm sure there is plenty of corn that is, but those people are only using their bins for storage, not for marketing. | |
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Grow Bin Sell
