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NC Iowa | Are you looking to sell on the board or lock in an actual cash sale? Basis can be locked in now or wait till later with a Hedge to Arrive (HTA)
If you are looking to make a cash sale, you don't have to sell a full or partial contract (well maybe to cargill you do). Any local coop you can sell as much or as little as you want. I often sell 1900 bushels at a time since it's two semi loads, I receive the same price as if I sold 5,000 bushels.
Check the websites for coops and grain buyers near you to see what the basis is for each place is, then you can at least decide who you want to sell to and then call them up and ask how everything works.
If you are looking to make a sale on the board you need to open a brokerage account with somebody so you can pay and receive margin calls. Then you will need to sell in 5,000 bushel increments unless you sell the lower priced 1,000 bushel mini contracts like graintrader said. | |
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Selling a (Soybean) Contract
