I believe we should have most (if not all) of our 2012 crop marketing decisions made.
Maybe a little un-priced in the bin? However, we do have some firm price and date related decision points in place for all these uncommitted bushels.
Having an indication of what price will make us market this remaining crop will go a long way toward minimizing the role of emotion as we finish out our 2012 marketing actions.
Now is the time to concentrate on marketing a portion of our 2013 crops — if there is a profit to capture.
This time of year often gives an opportunity to utilize the risk faced by our crop buyers to our advantage. This is because our end users encourage us to plant sufficient acres for their needs by pricing a risk premium into their early season bids.
They are trying to secure adequate crops to meet their needs for the upcoming year. Once acres are planted, buyers can be somewhat assured of a known harvest and prices tend to moderate.
As we plan crops for 2013 let’s remember the opportunity for profits can come at any time during the marketing year. Having a handle on the likely cost-of-production for our 2013 acres not yet planted can allow some confidence for pre-harvest marketing decisions.
Some years the best prices are had before the first planter is in the field.