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| Thank you all for the response.
MILKS - I thought about leaving the calls out of the situation but $300 bucks is $300 bucks and I'm too cheap to let that money get away haha. I really contemplated leaving them out but just don't see $4 corn before November 20th. Again I hope I am wrong because that would be one of my worst cash sales yet to date and would still keep my average price sold decent.
UP above - I honestly don't know when I will make the move to the March? I really just wanted to get another month worth of protection right now and see what the market looks like after harvest has mostly winded down across the US and to see what my final production is. We are only 70% done as an entire farm. I'll probably move most of my corn in Feb/March so am just hoping for a rally by the end of that time frame. So quite frankly I don't have an answer when I will make that move. I know alot of people don't like forward contracting but I think it is one of the best mental marketing strategies for me because before harvest I am better about hedging and taking the prices that are profitable. This time of year I lose my patience and focus on just making good sales into ascending markets something I am good at early in the year and by now I just lose my strategies so I am trying to be better about thinking through my marketing process to eliminate those emotional sales in the winter. Wish I had a better answer for you. Ask me again around November 20th when they expire! :) | |
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Am I an Idiot?
