who contracted new crop?

[Ronski]

I contracted 35% of my canola at 23 bucks, and have Nov put options on 40 % at 750. Sure hope there is a bounce and they expire worthless.
I harvest to much feed wheat to contract HRS but did buy Dec 6.50 corn puts for 20% (seems to track feed prices better... I think?).

I am kicking myself for not doing more (especially the wheat) but I barely filled my canola contracts last year and have a neighbor that had to write a big cheque after a hail storm.

What do you guys think? Has the ship sailed and we are grinding down to 7 dollar wheat again or is there hope?
Here in central Alberta crops look very good but heat/hail/frost/6 weeks of rain at harvest can fix that.

[TOM4CWB]

I contracted 35% of my canola at 23 bucks, and have Nov put options on 40 % at 750. Sure hope there is a bounce and they expire worthless.
I harvest to much feed wheat to contract HRS but did buy Dec 6.50 corn puts for 20% (seems to track feed prices better... I think?).

I am kicking myself for not doing more (especially the wheat) but I barely filled my canola contracts last year and have a neighbor that had to write a big cheque after a hail storm.

What do you guys think? Has the ship sailed and we are grinding down to 7 dollar wheat again or is there hope?
Here in central Alberta crops look very good but heat/hail/frost/6 weeks of rain at harvest can fix that.

30% peas,
40% Nexera Canola, Direct Contracted.
Puts [deep in money now] cover the rest of an average wheat and Canola crop. Calls to cover fuel and 30% of crop if it stops raining. Canola and wheat could make 10 year average... peas 90% perhaps. Fungicide just being completed on everything now. Looking for good basis on wheat for fall delivery... if it becomes available.

[jazz]

Didnt book any and usually dont. Too much uncertainty around this yr.

I suspect with interest rates tightening, you wont see those commodity prices again.

[Partners]

Didn't do much.
But $$$ sure looks good now on the stuff we did..

[SASKFARMER]

Did a half mill for fall delivery

Peas
Small amount cAnola

Wheat

[bucket]

30 degrees for 14 days doesn't bode well for estimating crop yield.

[blackpowder]

60 -70% presold.
Specialty crops the exception.
Selling some 2023 also.
Call spreads on last bit to cover contract if hail.
Highs are in for now I feel.
Average is higher.
Volatility is the take-home looking forward. Larger, faster swings.
Affecting costs as well.
Do your homework these days.

[wmoebis]

If prices trend downward is there ways for buyers to get out of contracts and Visa Versa? If yes what/who do farmers use to help negotiate contracts?

[Sheepwheat]

Wow. This is truly nobody’s business. You guys make me chuckle a bit inside.

[blackpowder]

Wow. This is truly nobody’s business. You guys make me chuckle a bit inside.

Agreed, but thinking grain cos have more sophisticated information and price parameters than Agriville. No trader in a world commodity market hedges based on hear say.
Bragging, sharing, learning, at least it's farmer to farmer.