From the Editor
Pro Farmer Editor Brian Grete takes time to talk with Pro Farmer Members about some of the key issues in each week's Pro Farmer newsletter.
A Tough Start to the Year for Grains
Jan 04, 2013
From The Editor
Jan. 4, 2013
Hello Pro Farmer Members!
Something circulated the twittershpere today that I wanted to sit and watch, but just haven't found the time to do it yet today. I will... I've seen just a bit of it and read a little more of it and it seems very interesting. It's from the Oxford Farming Conference and features the bum wrap GMO seeds received from the uneducated mainstream media and how some non-scientific environmentalists took the wrong angle on GMO when consumers were first constructing their opinions on GMOs.
I'm going to find time to watch it this weekend... watch it with me by clicking here.
If you haven't checked out My Grain Trades on your homepage yet, please do that this weekend. This is an exceptionally valuable tool that will help simplify your marketing efforts in the year ahead. Click here to go to the introductory page. It's a free service for Pro Farmer Members that helps you keep track of your grain sales and figures your profit potential on the fly. Just check it out...
Pro Farmer's Marketing Education Series is also now available. It is what the title suggests... a series of workbooks designed to help you make better marketing decisions. Click on the link to learn more about this new project we're putting together.
It was, without a doubt, a tough start to the year for the grain markets. Heavy fund selling at the end of 2012 carried right into 2013 and now most of the summer-2012 rally is gone. We've advised hedgers be sold out of 2012-crop corn, soybeans and wheat for quite sometime... and we've consistently asked hedgers to be ready to reown a portion of 2012-crop sales in either long futures or call options. After this week, we're probably getting very close to pulling the trigger on some of those buy-backs. Be ready to do some ahead of Friday's reports from USDA.
Most importantly, don't panic on new-crop sales. Some important support levels have been broken, but there is plenty of time and a lot of upside price potential from current levels before we'll have to start selling 2013 production.
And here's a prediction about Friday's USDA reports: For the first time in six years, we won't see a limit move (either up or down) in corn futures following the reports. They'll be released during trade hours, which should help absorb some of the buying or selling that will result. I'm not saying trade won't be volatile when the reports are released at 11:00 a.m. CT on Friday, I'm just saying we won't see a limit move.
That's it for now...
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