rab1964 - 12/5/2016 14:23
Chief Illiniwek - 12/5/2016 13:11
My opinion, start sales there but don't "open the floodgates". A LOT to happen between now and next August, when our 17 crop will be determined. Do you think the trade doesn't already know there'll be record bean acres next year? SA could have weather problems. The US could plant less than the expected shift of 4-5 million acres. As in all years, this bean market has the potential to go up OR down two bucks between now and August. In my opinion make some sales now, and some more in May and get a great average price.
ALL that said, if these are very nice profitable levels for your farm and you can lock in that and take all your worry and stress off the table because you know you'll pay all your bills and keep food on your family's table, maybe "open the floodgates" at this price level. Best of luck to you!
Problem is your neighbor can sell at $15, make more profit and be farming your ground you have been paying top dollar for when he outbids you. Just a gut feeling but I don't want much sold for 2017 for a while. Hedge it and protect it somehow if you must but I think there are better times coming, I mean afterall aren't we going to be great again? No faith......................really?
Don't worry about the neighbors. If it's profitable for you who cares what he does.