With increased soybean acres forecasted in 2017, farmers are going to need to pay special attention to selling opportunities.
On Market Rally Tuesday, Mark Gold of Top Third Ag Marketing told farmers they need to be “defensive.” He suggested buying short-dated August put options to make it through July.
If there are no weather problems in June or July, he predicts soybean prices could be $8.50 per bushel.
“Let’s hope I’m wrong and we see $12, $15 beans for whatever reason,” said Gold to Market Rally host Chip Flory.
Gold believes there’s “significant risk” in the bean market and a lot of things could go wrong.
“Are we going to let a $1 rally slip through our fingers when we’re expecting so many more acres planted? We don’t want to do that,” said Gold.
Hear what the three things that concern Gold most with the soybean market and China on Market Rally Radio above.