Harvest 2016 is almost a wrap! This time of the year is what everybody works so hard for, and it comes and goes in a matter of weeks. I know that harvest seemed to be spread out in some areas and other areas were able to progress along nicely. Let’s not forget that it’s only the first part of November, so we have plenty of time left. Seeing as how it’s still a busy time for everyone, I’ll keep this post short.
Now that harvest is coming to an end, what happens next? We close the bin doors, wash and put away the equipment, and start planning for next year? I hope that this covers everyone’s plans and the latter is a priority. Even though we may be exhausted from this busy season, it’s still time to keep managing the risk for our operations. How much of the grain we just harvested is at risk to the cash market? Do we have futures locked in or basis? If not, what is the next sale in our marketing plan?
Let’s ponder a couple more questions. What happens if we shut the bin doors and try to close the door on marketing our grain for a little while? If we slide it under the table, we don’t have to worry about it, right?? Unfortunately, it’s not going away so we might as well figure out how to deal with it and make the most of it. What would you do if you had an opportunity to market grain for prices better than what we were able to lock in a majority of our crop for this year? How would you like to lock in some $9 cash beans or better for delivery next harvest off the combine? If we had a chance at $4 futures for grain this year, would you take advantage of it? If so, is that stopping you from locking in $4 December 2017 futures?
Don’t forget to check out CVA’s deferred cash prices for grain delivered to our elevators this winter and early spring. It’s never too early to start thinking ahead to when grain needs to move and where we want to deliver. If you know you need to core bins this winter, or have your bins cleaned out this spring and don’t have enough time, call us for a picked up bid on farm. Our trucks will be ramped up and ready to pick grain up on your farm and take to your best destination.
It’s okay, go ahead and close the bin doors, put away the combine, but don’t shut off your focus to the markets and keeping a close eye on the risk remaining open on your farm. Take advantage of the opportunities coming at us and contact one of our ProEdge Grain Specialists for any questions you may have about marketing your grain or for a picked up bid this winter.