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| Here's my take on it. A lot of people are doing what you are doing. Selling because 6.09 is way better than you thought going into the year planting wheat. Take the windfall and go home with house money.
But my idea is this: we just got done with perhaps the worst drought in spring wheat since 1988. Could've locked in $5 cash price this past winter before any of that unfolded. So, you actually got a crop of wheat in the worst production year since 1988? And you get a measly $1 premium for that? I think this is going higher this winter. If it doesn't get a $7 handle again before the winter's over I may never grow the hopeless pathetic crop again! Seriously, this is the "2012 corn" event for wheat and the fat lady has already sung?
I'll probably be wrong but I'm holding my excess bushels. I have to store it anyway since it won't get dry now it rains every other day and doesn't get much over 70. | |
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HRSW in the elevator what to do
