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East Central, Nebraska | i would like to say i am new at this but i am not, as far as the realm of expertise required to be a farmer i will fully admit that grain marketing is not a strong point of mine so please bear with me here. i think for the most part I do a decent job of marketing my grain but find myself occasionally in what i feel like is a trap. i will eplain, so the local coop who i do a good part of my grain sales with will occasionally call and try to convince me to sell a certain amount of grain locking in only the basis. they state how great of an idea it is and i typically comply and do a fairly small amount of grain to appease the grain buyer and then typically tell myself when the price is locked in that was a stupid idea as had i just priced the crop how i saw fit i would have came out better.
so later into the contract what happens is that the merchandiser will call and pressure me to lock in the price or make me roll the contract as they claim a decision has to be made, and it always seems premature to me and as if they are doing so to better themselves. problem is i need to educate myself more on how this works. question i have is if a futures month is about to expire and the contract needs to be rolled or sold, when are these expiration dates? does the grain merchandiser have the ability to set whatever date they want or is it common practice that you have until a certain date to make a decision? reason i ask is they did what they normally do a couple days ago calling and saying i need to make a decision that second. roll or sell and i said i was busy and wanted to think about it for a minute. was 2 days ago the end of the december corn contract? did i have to make a decision at that second or do i have until the end of that contract period? what is the end date of the december contract? Google claims december 14th> in your opinion are they doing me a favor or doing themselves a favor? i like to think they look out for me but sometimes i don't know.
i would appreciate a little education if someone had a minute. thank you.
Edited by caseihfarmer 11/16/2023 04:33
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corn marketing question,
