Posted by Dave from MN on January 07, 2010 at 06:17:28 from (96.24.95.216):
Ok, I look out and see prices, good pices, for 2011,2012 grain. My local elevators do not do anything much over New crop 2010, some wont even do that. I listen to Agday, and I hear the advisors say things such as "lock in your basis", and "secure your 2011-2012 prices now", How is this managed? Is this some thing only huge farmers are able to to? Is he talking about stock markets purchases/sales and not actual contract and delivery of touchable grain? I still dont really understand the put/take stuff. I was thinking of buying some off farm corn from a neighbor that is thinking of selling at a cash price of $3.12(current local cash price avg), and buying an amount that I have contracted for N/C 10 @ $3.79. I know there has to be a better risk manageent other than contracting a percentage of what I expect to harvest, and riding the risk that rices dont skyrocket or hit rock bottom for the rest, or not having the corn to deliver for the contract, due to crop disaster. I know its all a risk, but the risk would be less, if I did a few things different wouldnt it? I am sure more people other than just me would benifit from any knowledge you guys would share.
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