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| What I personally do with wheat...and keep in mind I'm about your age so I'm still learning as well... but I try to store all production then wait until November or December and lock in basis. Then wait for a small rally and set futures price, as basis "generally" widens. I do this maybe 2-3 times per year. If I have more production than storage, I haul the extra loads in at harvest and will sometime replace those sales with call options if I feel there's upward potential in the market. I haven't done this yet but if I feel the futures price is at a top I would like to start using HTA contracts while hauling in at harvest.
I definitely think you will see a return over $2/bu in your lifetime if you built more storage. | |
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GRAIN BINS-Marketing advantages
