Harvest is approaching and soybeans are improving.
Based on the USDA Crop Progress Report for the week of August 28th, soybeans rated 74% good to excellent the best rating seen in many years for this time period. Producers are now concerned that not enough cash sales were made and should I store or sell at these low levels.
If the grain is stored till spring, one must consider with the potential for some of the highest yields we’ve seen in both corn and soybeans, prices will not recover but move sideways until demand or weather were to move these prices higher. Frankly there is the potential for another bear market next year. If the product is stored and fees are incurred. What if prices are only up marginally and the storage fees have consumed any price increase. This is not a year to hope because next year could be much of the same. T
One has to seriously consider a marketing plan for reownership of the 2016 production as well as the potential for low prices next year. Now is when one should be looking at buying calls on harvest lows, call our office if you have any questions and would like to discuss marketing strategies, call Bob or Laura (1-800-832-1488). We welcome emails to email@example.com or firstname.lastname@example.org.
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