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Tractor Talk Discussion Forum

O.T. What were top prices you could contract Grain For?

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migraine

09-20-2007 11:07:05




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Was talking with my brother in Iowa last evening about the upcoming harvest and he was talking of some pretty good prices on corn, beans, and wheat that you could have forward contracted earlier in the year and I was wondering what was the top price you could have gotten for the big three? He has about 60 percent sold on futures but didn't quite get the top he didn"t think. This is in no way meant to offend those who are suffering drought and won't get much crop, in fact our thoughts and prayers are with you to be able to hang in there. Just curious. Almost all hay is sky here as well with great demand both local and for overseas shipment. Thanks

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IaGary

09-21-2007 03:23:25




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 Re: O.T. What were top prices you could contract Grain in reply to migraine, 09-20-2007 11:07:05  
Hey migraine.

After margins and trucking costs to the terminals, the top here was about $3.85 on corn for Oct. delivery. I got some sold at $3.65 picked up on my farm.


I sold some beans before the US crop report that came out last week, should have waited.

New highs are being made now.

I would have liked to seen $5.00 corn but that never happened here.

If anyone got some sold over $4.00, after marketing expense, they did good. No one around here did.

Gary

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Steven f/AZ

09-20-2007 18:59:09




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 Re: O.T. What were top prices you could contract Grain in reply to migraine, 09-20-2007 11:07:05  
In ND I believe wheat was able to be contracted before harvest (couple months ago) for around $5 per bushel... I know of a few people who have since contracted at $6, and now it's up to I think around $7 on January futures...

Don't quote me, because I don't follow it that close.



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jimont

09-20-2007 18:13:35




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 Re: O.T. What were top prices you could contract Grain in reply to migraine, 09-20-2007 11:07:05  
Boys - Pretty high odds of ever catching the market high with one sale. Best advice I was ever given was to "Sell Little & Sell Often".That way, you might not hit the absolute high, but you'll probably dodge the market lows. We haven't sold any beans yet (no corn)but are getting mighty tempted to do some at $9.00. Harvest is nearly 3 wks away with our longer day beans. Neighbours early beans are only running 15-20 bu. but they're right behind the combines sowing winter wheat. This is in Southern Ontario.

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VADAVE

09-20-2007 15:51:46




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 Re: O.T. What were top prices you could contract Grain in reply to migraine, 09-20-2007 11:07:05  
If I remember correctly contracts for Wheat and corn got over $5.00 and since beans are still not harvested over $9.00 and working. I got didn't get the top either but am satisfied.



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