2017 was a fairly flat year for markets, and agriculture in general, according to Joe Vaclavik, president of Standard Grain.
There were “poor” opportunities to market corn in 2017, and few opportunities in soybeans and wheat, something Vaclavik calls “frustrating.” Now that the year is almost in the books, he’s looking ahead to 2018, but he isn’t planning on changing his opinion or strategies.
“My goal is to sell grain at profitable levels and 2017 didn’t give me the opportunities in the corn market in particular,” he said on U.S. Farm Report. “I’m still interested in making sales that make money. If that means I’ve got to hold my corn a little bit longer or own some puts to carry me through some bad times, that’s what I’m going to do. My eyes [are] on the prize.”
Corn and soybeans traded in a tight range since there wasn’t a lot of market volatility in 2017. Some producers saw breakeven prices for corn, and if the same thing happens in 2018, Tommy Grisafi, branch broker at Advance Trading, Inc., says defining risk is important.
“Some things are controllable, some aren’t,” he said. “People are looking for anything to sell to try to get some money out of it.”
Hear what Vaclavik and Grisafi think are the biggest learning lessons in 2017 on U.S. Farm Report above.