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Southern Illinois | I'm just a little guy out here who sowed roughly 450 acres of wheat. I've been watching (sweating) this wheat thing since I sowed the stuff back in October. I have no idea what all the jargon of trade is but I do know what price I can sell wheat for and make a great profit if things go right. Last week Ag trader preached to sell now, and I thought long and hard about his words. I made a historic sale of about half my production of the highest wheat price my small elevator has ever paid. Since then new wheat has softened a bit. Wheat may go to 10 bucks, who knows but I guess the point I'd like to make is there is alot of wheat around and within 2-3 months wheat harvest will start around the globe and if supply is decent, I truely doubt if we continue to see these 7 and 8 dollar prices.
I use to never sell anything this early, and in the past what few contracts I've made weren't always the best, but its hard to determine where to put the floor even when you got the grain in inventory. For me selling high dollar grain is still good even if its not the top(if you ever hit the top). I'm a younger guy farming with 10-20 year old equipment and make too many hard decisions everyday. I enjoy my job but buy crop insurance to protect my rear on a 1500 acre operation. Making money in a business is not an option, its a neccessity.
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Wheat Market- My view
