Posted by: usset001 | March 6, 2014

Old crop selling opportunities in corn and soybeans

grainbinsFrom harvest to late February, corn and soybean prices had been trading in a relatively tight range; $3.90 – $4.15/bu. in corn and $12.15 – $12.90/bu. in soybeans (cash prices in SW MN). Since then, thanks to problems with the South American crop and political problems in Ukraine, prices have broken through the high side of the range. This is good news for producers who are still holding 2013 corn and soybeans in storage. Is this the selling opportunity you’ve been waiting for, or will you wait for even higher prices in the months ahead?

In my own post harvest marketing plans, I was holding a modest amount of corn (10,000 bushels) and soybeans (7,500 bushel). I am treating the current rally as a selling opportunity, and recently priced all remaining bushels held in storage. You can see my post harvest marketing plans for corn here, and for soybeans here.

Time will tell if I was too early, but I’m tired of worrying about old crop grain. It’s time to get serious about new crop pricing opportunities.

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