Posted by: usset001 | April 28, 2009

Another small sale of new crop corn

moneycornLast Thursday was a decision date in my pre-harvest marketing plan. With December corn trading at $4.11 – higher than my minimum price objective of $3.95 – I took one more modest step towards my goal of having 75% of my 2009 corn crop (based on actual production history) priced by early June. You can see my corn plan here.


Responses

  1. Ed, Looking for articles on corn marketing and ran across your website. Have you been doing these dates like that for sometime? I would appreciate any advice and am very curious to your sales dates? I try to do better at marketing every year but it is a real struggle this year since report. Sincerely Dean

  2. ED, Also after reading more about your background how can I get your comments and your plan for 2010? Also do you get rid of extra bushels during the next years plan? Dean

    • I wrote my first marketing plan in 2000, and it looked very similar to my most recent plan for 2010 (http://www.cffm.umn.edu/GrainMarketing/Pubs/GrainMarketingPlans/Corn2010Pre-Harvest.pdf) , including the dates (or what I often call “Decision dates”). My decision dates are clustered in the spring, during the months of March through May. I put them there because history has shown that spring is often a better time to make new crop sales of grain. I spread the dates out in a random manner, but for fun I might slip in the dates of the full moon (but just for fun – I can’t prove it helps my pricing).

      If you knock around my website, you will learn that I separate my pre and post harvest marketing plans. Extra bushels may be sold at harvest or stored, depending on the signals from the carry in the market at harvest. You can find my post-harvest marketing plans here. http://www.cffm.umn.edu/GrainMarketing/MarketingPlans.aspx


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