Wild Day in the Markets

[charliep]

Just a note to highlight the rally in the markets today (most crops). Watch the rally carefully with the idea of making at least some more sales. I realize it is hard to sell in a rising market (particularly if you still have unharvested crop) but bills still need to be paid/cashflow generated.

I think it will be a year to use options (both puts and calls depending on strategy) as a part of your marketing plan. If you are uncomfortable with them, it should be a year to work on your skill set.

Any thoughts on which crops to sell/which to store unpriced? What factors are you looking at in this decision? Some crops may be going in the bin tough/damp so you may need a strategy to get these crops moved straight off the combine.

[charliep]

Things have quieted down a bit in the markets with harvest pressure in the US/relatively slow demand. Wheat remains the most positive given the tight world situation but the non traditional exporters (former Soviet Union, Eastern Europe, perhaps even China) continue to fill the gap to some extent.

Still encourage everyone to follow the markets. They will/are presenting opportunities.