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Central Indiana | I believe the possibility of testing high $10s could be real by the time August rolls around. It’s only about 30¢ move to get there on futures and cash is really close for fall already. But low prices do eventually cure low prices. We need to become competitive with SA and the only way for that to happen is for prices to adjust to levels similar to what SA money can buy to spike demand. This winter after harvest is wrapping up provided just as average year of bean yields I can see demand picking up as SA should be planting their next crop with little left to sell. My thoughts are simple right now and that’s to sell a few loads of new and old crop each before the report. Wait and see what report does and then go from there. $11 beans are not a deal breaker but are much better than the $8 we had just a couple years ago. Wait for July and August weather to materialize and see how your crops look. If you look good sell maybe 25% of your crop before fall. You can’t go wrong with a profit. Trade facts not emotions. Too many people give up after a down day or week but just remember when we get to a level that is competitive the bleeding will stop and all it takes is one good week of demand to gain it all back! | |
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