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 - Machine Shops - by Curtis Von Fange. It is a story that repeats itself countless times. In the process of rebuilding a particular section of the tractor there is a broken part for which a replacement cannot be found. The parts houses find in their catalogue that it is unavailable. The dealerships call it a discontinued part. Salvage yards define it as hard to find or, even worse, rare. Everyone on the NET says, 'what is it?' But don�t despair there is another avenue that can be used to get that piece repaired. The local mach
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