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Macon, IL | Talked through it with my agent today, I buy insurance to insure break even-insuring profit too expensive-and at these prices can do that with puts it I wanted to.
I ended up with 75% crc, may do some puts on remaining 25% in corn. Bean puts too expensive, just going to settle for my $13.40 insurance floor on 75%-that works out to $10.05 a bushel. I have never averaged close to that before so for $11.75 an acre I can insure my best income ever on beans...done deal. Only risk I see would be selling too much and gettting caught having to buy back-but just selling 50% of production should be safe-I can't imagine how dry it would have to be for us not to grow 25bu beans. | |
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crc- forward contract
