Weather conditions across the Midwest have been damp, delaying some farmers from working up ground or planting. Corn producers have a lot to think about when it comes to weather and price.
Chip Nellinger, risk management consultant and futures market specialist with Blue Reef Agri-Marketing, Inc., says farmers holding on told crop corn needs to think of the current situation and plan accordingly.
“Is that something to hold into summer and gamble on weather?” he said. “The next 30 days is to make some plans for that disposition remaining old crop.”
As for new crop, DuWayne Bosse of Bolt Marketing, LLC says the news is bearish, especially after soybean prices have dropped. His strategy to U.S. Farm Report viewers is to buy courage calls.
“When the market does rally, because we do have big old crop stocks, it gives you the courage to sell at $4 and higher,” he said.
Watch Bosse and Nellinger discuss soybean, corn, and protein markets on U.S. Farm Report. Check your local listings or download the Farm Journal TV app.