Whenever you contract ahead you are protecting yourself from the down side, but you are also locking out the chance for a higher profit if the price goes up. If you are highly leveraged, maybe even on the brink of disaster and need to guarantee the banker at least enough of a positive cash flow to service your short term loans you do need to sell ahead.
I have contracted ahead a few times and it didn't help me sleep any better because I was afraid I had locked myself out of a bigger profit. Every time I sold ahead, except for one time, the current local price was higher than the price I had contracted for, at delivery time. I have a feeling we won't see prices drop a whole lot anytime soon. Bad for the end user but good for us farmers. Jim
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Today's Featured Article - Show Coverage: Godfrey, Illinois Country Days - by Cindy Ladage. Except for last fourth of July's Old Gold show in Springfield, Illinois, I don't remember when it was so hot. Nevertheless, the heat didn't keep vendors and visitors alike from enjoying the third annual Country Day's Event. Jane Elliott said the event was originally a one man show. "Barry Seiler, owner of Country Town Farm Supply store used to invite people up to the Johne Deere store. He would give hats and a free meal for everyone that brings a tractor." Elliott said while this
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