OT Price for corn?

[super99]

Ok, harvest is done, corn is in the bin and waiting to sell. How far do you think the market will go and what is your target price? Never had bin to store and sell later before, but always tried to forward sell a little at a time, hoping to be 1/2 sold by harvest. Local elevator had $3.80 for river open in Muscatine,Ia. last Fri. Think I should sell some, but would like to get $4 for at least part of it. What are you guys looking for? Chris

 

[Anonymous-0]

I've sold over 2 million bushels of corn in my career. Sold for over the $3.80 your offered only twice--maybe 30 or 40,000 bu total. The price is in nearly uncharted territory. I'd sell at least a third or purchase an option to somehow protect the price and not let it get away.
I've got 50,000 bu of 2008 corn sold off the combine for $3.90. If it is my worst sale next year, I'd be even happier!

Your call, but I get more uneasy when market is good than when it is bad if I'm not protected.

Having storage can be a detriment if you put it away and forget it.

 

[Bill(Wis)]

CBOT futures for corn beyond Mar 2008 are all over $4.

 

[randallinMo]

Iowa Corn and Hogs: That's absolutely excellent advise. Excellent.

 

[IaGary]

CBOT may be over $4.00 but check what you get locally.

Most times its 20 to 60 cents under CBOT at the processers.

Then you still have trucking to user point.

For example, I can get $3.75 picked up at my farm for July. And CBOT was around $4.17.

So most farmers can not realize $4 in there pocket yet.

Gary

 

[Anonymous-0]

Some guys think that because they have a bin that storage is free .If you can sell off the combine for$375 or 380but can get 4bucks next spring they fail to consider the interest they didn't earn plus potential loss and dock if grain goes out of condition in the bin.That doesn't mention Electric to run fans and/or stirators cost

 

[msb]

Don't be in a hurry. If the dollar takes a BIG dump next week like some believe then $5 will not be out of the question. Today is NOT yesterday and tomorrow will be crazier still.Not a good time to follow yesterday's rules.How many times have you seen milk in the grocery at $4 a gallon? Ya ain't seen nothin yet.

 

[luckydog]

If I had the answer for that question, Don"t think I would be farming. Buuuutttt it is hard to loose money at he prices they are right now!!! Bill

 

[Dave from MN]

Ever watch that show "deal or no deal"? Holding out for the big one ussually sends them home with far less than they had a chance at earlier in the show.