Posted by: usset001 | July 17, 2010

More 2011 pre-harvest sales of spring wheat

Earlier this week I saw the opportunity to post my 2011 pre-harvest marketing plan for spring wheat, and to make a few sales. The wheat market continues to rise and I added one more sale on Friday.

As I said in an earlier post, the opportunity to price wheat at $1 above production costs is rare. I feel compelled to get something done.

As it stands today, I have about 50% of next year’s spring wheat crop priced. I put a moratorium on any further sales between now and the end of the year. If prices want to continue higher, I can enjoy the fact that half my wheat crop has not been priced, and I’ve barely started on corn and soybeans. There is lots of upside potential.


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