How a Two-word Obituary Can Be Applied to Grain Marketing
This week I’m inspired by Doug Legler’s two-word obituary that was published this week in the Fargo (ND) Forum. It simply said, “Doug died”. Sometimes short and sweet is the best way to get a point across. (read about the obituary here)
The market chatter has turned noticeably bullish this week following the strong rally in all commodities. For most producers, this is the rally they’ve been waiting months for. New crop corn is above $4 cash and with post-harvest basis you will be likely to net $10+ cash for new crop soybeans and $6.20ish new crop spring wheat. Not great prices but the best we’ve seen since last December’s rally.
In light of considerably higher prices this week and the consensus turning bullish, I’m going to leave you with my short and sweet highlight of the week……
Sell based on profits, not predictions.
Spend a few minutes next week reviewing your cost of production and take some risk off the table if you can find a price that meets your objectives.
Short and sweet! Have a fun, memorable, and safe 4th of July (and sign up for our free weekly newsletter below if you haven’t already)!