|
| Just hit around 75% 2010 corn depending on yields, but I'm nearing my insured bushels (avg cash $3.89). I'm really close to 70% on 2010 beans as well ($9.49 avg cash). I have offers in for 2011, but so far no bites yet. Usually I'd be selling for all three years in a run up like this, but the elevator isn't posting bids like they used to.
I'm more heavily presold for fall and Jan delivery than I've ever been, but having a break even number to guide me makes marketing a little easier especially now. Don't sell when it's under the break even as much as possible and be a willing seller when I'm above break even. 25 cents over break even on 200bpa corn (hopeful thinking) is $50 profit - I like that. Also, I admit I'm not being a good 'student of the basis'. Surely there are better tools like HTA's (cost 5 cents at elevator) and possibly options to take advantage of a future basis move, but for now I'm satisfied that I've made profitable sales. I do have some $ in my breakeven for drying, but it still is a tbd - with the recent dryness I'm hopefull my number was quite conservative.
Thanks,
Pat
| |
|
Percentage sold
