how your corn strategy going?

Dave from MN · Oct 2, 2009

Kind of a low elevation roller coaster ride lately. Been contracting little here and there the last couple weeks when prices pegged mid days, but over all corn just doesnt seem to want to ride the high track. Contraqcted 1/2 of what I know I have in the feild, just not sure if I should do more , or sellas cash in a few weeks, or store till march or when ever. Kinda fun to play the game, just hoping the bumper crop and high stocks dont yank it down below cost for some people. Alot of folks have full bins, a bumper crop, and are erecting more bins because they dont want to sell. Wonder if it"ll work out. How are some of you more experienced folks playing the game right now?

GordoSD · Oct 2, 2009

If you look at market prices over the last ten years I don't see how you would ever take the lock off the bin until Feb, at least.

Gordo

NY 986 · Oct 2, 2009

I envy you guys out in the Mid-West. Around here it is all about who is going to be solvent enough to pay you. I would have to be in a much stronger financial situation to commit any sizable amount to contract. Watching the market having peeked weeks ago has sorely tested that strategy I'll admit.

Anonymous-0 · Oct 2, 2009

that supposed bumper crop isn't the bin yet, most producers around here think the corn will be light and alot of it isn't black layered yet. I don't think there will be the bushels that the traders are counting on. A little frost scare last week sent corn up. I will take it out, dry it bin it, seal some and worry about it then.

Anonymous-0 · Oct 2, 2009

My experience is is generally better to be lucky than have a marketing strategy. The market experienced a significant runup in early June, so although many claimed more was to come, I sold half the expected conservative yield at $4.14/bu. Now looks like should have sold it all. No bins and elevator storage is expensive, therefore considering selling at least another quarter at any significant preharvest runup although time is certainly running out.

glennster · Oct 2, 2009

we prolly wont get ours combined till 2nd week of november, had such a late plant due to all the rain . some tests were showing the yield will prolly be 150-160 bu/ac, down from 200 bu/ac we been averaging. some of the ears are not even dented yet. so its gonna go in the bins till spring. we still need a couple weeks to get the soybeans dried down to combine too.

kruser · Oct 2, 2009

glennster,
Didn't mean to steal the subject or start a new one, but I think the Howells are on to us. Do you think we should spray some black around in addition to the JD green and yellow for more "horse power"?
I assume that's your Farmall H BBQ wardner posted on the modified tractor subject - maybe we should haul that as well for some real Texas barbeque!
Now, back to the subject: Farm kid but not a farmer. I think I would worry more about getting crops in the bin the way the weather has been and then sell on weather rallys.

Spook · Oct 3, 2009

I haven't seen any corn harvested here in Mid Michigan.

OliverGuy · Oct 3, 2009

Funny how $4.14 didn"t sound that great a year ago, but it sure does now! I was bummed when I contracted beans last year out of the field at $9.78, but wish I had it now. You can"t even imagine the smile on my face last year when I sent in three 900 bushel semi"s contracted at $13.21. Ahhh, the good ole days.

Anonymous-0 · Oct 3, 2009

Yes, a year ago many definitely made money. No killing on beans but did sell some $6.00 corn. My marketing is certainly nothing to brag about. Very infrequently hit it pretty good and these are the ones that are remembered. However do remember selling SRWW for $1.86 around ten years ago. I sold the corn because would rather be 50% wrong than error 100%. The alternative of being 100% correct is about as elusive as winning the lottery. Therefore with some profit showing I triggered the June trade thinking if the market goes either up or down, the end result wouldn't be more than 50% wrong. Do watch the weekly public TV's "Market-to-Market" program and this week the market analyst tended to believe the harvest lows are in, so hold for a rally.

how your corn strategy going?

Dave from MN

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GordoSD

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NY 986

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Anonymous-0

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Anonymous-0

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glennster

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kruser

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Spook

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OliverGuy

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Anonymous-0

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