The increase in volatility in corn, soybean and wheat prices since the March 29 Prospective Plantings and Quarterly Grain Stocks Reports from USDA has provided growers with an improved opportunity to market old- and new-crop bushels. But, why not give the markets a chance to provide even better selling opportunities. That was at the heart of a conversation between Curt Kimmel from Bates Commodities and Chip Flory, host of AgriTalk After the Bell.
“I like a price floor at $4.00 in new-crop corn and at $10.00 in new-crop beans, but keep some flexibility in your cash marketings to take advantage of a better selling opportunity later,” said Kimmel. Seasonally, he explained there is still time for corn and soybean prices to move higher on U.S. crop uncertainty, “But the price floor will give you some comfort on a morning when you wake up after (President) Trump tweeted out something that threatens grain trade and U.S. exports,” said Kimmel.