Posted by: usset001 | August 17, 2010

Pricing 2011 soybeans – my pre-harvest marketing plan is posted

2011 Pre-Harvest Marketing Plan for Soybeans

In mid-July I posted 2011 pre-harvest marketing plans for spring wheat and corn. No, I did not forget about soybeans. My 2011 plan was written in early August and is now posted on my website (and shown here).

My minimum price objective for 2011 is a cash soybean price of $8.40 per bushel or Nov’11 soybean futures at $9.10 per bushel (I assume a harvest basis of 70 cents under).

I consider pre-harvest sales made before January 1 to be early sales, and I demand a premium price for early sales. In early August I took action to execute the first two steps in the plan. I made a sale of one Nov’11 futures contract at $10.13 per bushel. I am leaning hard towards the sale of another Nov’11 futures contract – I like rallies and I consider this a selling opportunity.


Responses

  1. Thanks for the info and keep up the good work…


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