I have been bullish since the January USDA numbers and refused to sell anything until they corrected their mistake. Once they did, I contracted some. Since then, I have become alot more bullish since russia halted exports. The heat and drought in moscow is very real. Yes the market has gone up, and I would like to sell more '10 production- but corn and beans are still .30 cents below what I contracted in early January. So although the markets have had a good run-up, it all started with USDA correcting a big mistake that lowered the prices below what they should have been in the first place, and now with Russia produceing 1/3 less than it did last year, and prices still lower than January - lower than many selling opportunities in the last 3 years - The end users will need to pry grain out of tighter hands. Yes you may be able to lock in a profit, and I believe I have on nearly half of my production. There is still the reality that if markets go substantially higher and I'm sold out, someone else will be out-bidding me for rents and land in the future.
Edited by Hayinhere 8/9/2010 15:00
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