Whenever you contract ahead you are protecting yourself from the down side, but you are also locking out the chance for a higher profit if the price goes up. If you are highly leveraged, maybe even on the brink of disaster and need to guarantee the banker at least enough of a positive cash flow to service your short term loans you do need to sell ahead.
I have contracted ahead a few times and it didn't help me sleep any better because I was afraid I had locked myself out of a bigger profit. Every time I sold ahead, except for one time, the current local price was higher than the price I had contracted for, at delivery time. I have a feeling we won't see prices drop a whole lot anytime soon. Bad for the end user but good for us farmers. Jim
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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