Just wondering where everyone is at in there marketing at this point in the year. I would like everyone if they could to post how much of the current crop is sold and delivered as well as how much new crop you have sold.
For me i'm not real confident in our markets going foward. Globaly the world is currently at a point where supply is greater than demand. Along with all the other outside financial factors looming I personaly feel that we could be in for a new low for a while. Some weather problems could no doubt create some opprotunities but I would sooner take advange of them on paper (options) rather than risking unhedged grain.
This is where our farm in at.
Old crop
Wheat 90 % sold, 10 % delivered. Call option purchased on approx 5 % of priced wheat.
Canola 95 % sold 10 % delivered. Call options purchased on appox 20 % of priced canola.
New crop.
25 % sold on new crop wheat(45 bu/acre projection. No options yet on the remainder)
50 % sold on new crop canola(35 bu/acre projection)with another 20 % protected with put options.
For me i'm not real confident in our markets going foward. Globaly the world is currently at a point where supply is greater than demand. Along with all the other outside financial factors looming I personaly feel that we could be in for a new low for a while. Some weather problems could no doubt create some opprotunities but I would sooner take advange of them on paper (options) rather than risking unhedged grain.
This is where our farm in at.
Old crop
Wheat 90 % sold, 10 % delivered. Call option purchased on approx 5 % of priced wheat.
Canola 95 % sold 10 % delivered. Call options purchased on appox 20 % of priced canola.
New crop.
25 % sold on new crop wheat(45 bu/acre projection. No options yet on the remainder)
50 % sold on new crop canola(35 bu/acre projection)with another 20 % protected with put options.