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NCND | They are all htas that I can get out of if need be. If market turns where everyone's 20% turns into %40 then I would like to think I'd get long or at least flat. I usually sell in 5 k increments which is about 1.5 bpa so I'm not selling 20% at one time. It can't get much worse than we have had it here as far as getting things planted. I'm above revenue price on grain sold so insurance is there.
This thing could go either way. If fertilizer continues to climb we may see increased bean acres across state or country. Corn either needs to rally and wheat needs to rally further to really entice guys to plant more than they have to rotation wise or we just as a whole add more and more beans. I'm comfortable with my positions and am actually growing pretty optimistic. If my sales turn into 40% because it he's wetter here well I have a good profit locked in on 40% of my sales. If it turns into 80% I have a nice profit on the 80% of planted acres and the pp check will be big.
I always buy fall price option so of we rally and my acres fail I'm still safe. This is a pretty common type of rodeo for us so its not the worry it was 4 or 3 years ago. Becoming old hat that you adapt too.
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HALL where do you see resistance above 1160 new crop beaners?
