Posted by: usset001 | May 5, 2010

Pre-harvest marketing plan update for corn

2010 Pre-harvest marketing plan for corn

When Dec’10 corn futures rallied back above the $3.90 mark on Friday, I took the step of revising my pre-harvest marketing plan by lower my minimum price objective from $4.05 to $3.90 December futures.

This has been an atypical year since the start of the new year. Instead of pondering good pricing opportunities in the spring, prices have been on the defensive for months. Now I have a choice. What will hurt worse; (1) leaving my minimum price objective at $4.05 Dec’10 futures and NOT getting any more corn priced before harvest or, (2) lowering my minimum price to $3.90 per bushel and learning that I sold 15 cents cheaper than I should have?

I’ve decided that the first alternative is more painful. Leaving my minimum price objective at $4.05 also looks stubborn, and stubborn is not a positive marketing trait.

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