Pay attention to markets!

[charliep]

Everyone will be going petal to metal to get crop in but there still is a need to follow markets. They often rally (as they are this week) during seeding time.

Both wheat (futures and fpc) and corn (cross hedge barley) are moving higher again. Oilseeds not so much.

Last week was a reminder that prices are historically high and can come down if weather turns favorable. A cool wet summer can make for some extremely high corn yields as an example (yes higher risk but...) - highlighted in couple of articles I have read. Yes there is weather premiums built in the market that can disappear.

If you haven't locked in a price on at least some of your new crop (adjusted for the realities of your production side), then you should be following the current rally with interest and likely pulling the trigger on some portion of expected production. Options and minimum price strategies should be in the mix.

[boarderbloke]

just listening to the markets on 550am Bismarck radio and was going to post an alert as well(still have unpriced FPC July 11 WHT).
This will be the fifth attempt to break above $9.75-9.80 MGE JULY WHT since the high in early Feb.
$ exchange should reflect better on this ralley too.(lets hope)

[charliep]

Sometimes my interest is not in news but what farm managers do with information. With $10/bu spring wheat in the nearby (maybe), will farmers change their seeding plants? What comes out of rotations if wheat goes in? Risk of another year of feed wheat and probability of low quality wheat versus lower quality in other crops?

[charliep]

[URL="http://farms.com/FarmsPages/Markets/tabid/214/Default.aspx?page=chart&sym=MWN11"]July MGEX Wheat[/URL]

[charliep]

boarderbloke

Depending on when you did your BPC, you could be pretty close to $9/bu for 1CWRS 13.5. Flexpro is at $9/bu most delivery points. Current PRO is $7$7.75 to $8/bu with likely a 25/bu increase in the May forecast (could be a little higher but need to recognize pool 80 % priced and uncertainty around end of crop year deliveries/farmer decisions on pooling year).