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NC Iowa | Nice to see you have a plan. You asked about other farmers plans. I don't have any targets on paper. I usually try to sell when ever we get a little rally. Feed the bull I say. This works some times but doesn't work at all when the market just moves lower for the whole year. If we don't get much movement in the market by Thanksgiving then I'll get more aggressive selling to get my end of year cash flows met.
With that said. This year I sold about 12,000 bushels of beans to avoid storage charges at the elevator and get some cash in my bank account. I bought back 20,000 bushels (12,000 plus an extra 8,000 because they were below the price of production)on the board. Sold 5,000 of those bushels Tuesday. So I would say I'm very bullish beans with not much for a plan in place. My mom would have said I'm marketing by the seat of my pants. I'm hoping for the rally to continue and at some point I'll sell some more. I hope I don't get to greedy but I feel like we should move higher over the next month. If my feeling change I could sell all of my beans in a hurry.
Now that I read what I wrote, it looks like I market my beans based on emotions. That may not be good advice for most farmers. You just got my 2 cents. | |
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My soybean strategy/or lack thereof