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Commodity Prices

T

Tom OConnor

Member
I hope anybody that has grain in the bin or expects to have grain to sell next fall is watching the markets.
Corn $7.03
Beans $16.65
Wheat $9.74

This A.M. Andersons Maumee River Delivery
 
C B O T wheat today showing 10.60. That is about 2.50 higher than C B O T price 10 days ago. Of course no basis figured in C B O T quotes.
 
Sold corn to pay bills. Sold the soybeans on the way up at what I thought was a good price at the time. Should of hung on to them.
Can't tell ya how discusted I am. Only if one would ever know!!! Story of my life on selling grain. If you ever want to do it wrong, just do what I do.
 
Watching the corn here go up. Up to $7.40 now for April delivery. Thinking about selling some of ours today. We got almost $17 for our beans.
 
Then take your money and try to find a tire or oil or herbicides or fertilizer at any price........ will make the grain prices look poor!

Going to be an interesting year.

Paul
 
I did ask this question. Got a lot of good responses. My thinking was this. Grain prices are way up. So is fuel, fertilizer, oil, chemicals, and just about everything else. So what was the profit percent last year as compared to this year ? What will happen if the price of grains goes down and the price of everything else doesnt ? Just the price to run a household minus the farm is way more expensive. What happens if beans and corn half in market value over the next year or 2. It definetly could happen.
 
Im scared the govt is gonna do something to crash grain prices and save the ecconomy. 95% of the country will cheer that something was done to hold the line on inflation, and who cares about those 5% hicks out in fly over land they are all rich land owners anyhow.

I can really see that happening, and we have had it before in the 1970s and 80s.

Very strange times as we are at record prices so should feel good. But the future is so uncertain.

This isnt going to go well for the 95% either, I feel for their future as it is as well.

Very strange times.

Paul
 
This is far from normal times for sure. Yesterday I sold half of the corn I have left to the Chicken farm for $7.09. Today corn opened up 10 but closed even. I dont know if this is a lull or the end of the upward run. A few years ago I sold corn to this same chicken farm for $7.49 so this current price is not a record high yet.
 
They developed a rr wheat in the lab but it was never released to be used. A little bit got out into the public years ago and caused quite a commotion.

They decided other than corn they didnt want to make any grass species rr. The possibility of it crossing into grassy weed species was too probable.

Paul
 
If you sold it for what was a good price at the time i wouldnt feel to bad you could have waited and watched it crash well below your good price at the time figure Ive seen that happen a lot of times guys get greedy its going up up and then crash guess we should have sold it
 
I have done that too!! I have been on both ends of the spectrum. Keep, and it goes down. Sell, and it goes up. Never seems to fail everytime. And I always seem to do it wrong.
I think the grain markets are heavily influenced by non producers playing in the futures, day traders, you name it, and the list goes on. And, that just makes the markets not understandable to the actual producers. Or, at least me anyway!!
I told my brother just yesterday, to not look for the price of corn to go down for awhile. Knowing my luck, just watch, it'll drop a dollar or two just because I said it wouldn't. That has always been my luck, just to give you an idea.
 
I sell when I figure its a good price that will work sometimes that means when the payment on something is due . . Your right trying to outsmart the system Ive never had much luck at .
 
Yes very high stakes gamblers and all the casinos are very low stakes. Get them out and world would be better off. Make the stalk market if you by a stock you have to hold it for 6 months before you can sell it. And I grew up when the livestalk and grain markets only changed once a day, never more. You could plan what you wanted to do. check market price in morning and if it suited you load up and take it in, not like now if you try to do that then price may be droped way down by time you get in.
 
So start selling some of next years crop while it is up so it is not sold for 8 dollar beans 5 dollar wheat and 4 dollar corn. I have sold some for next year and looking at 24 to capitalize on the highs for then so I don't have to still buy the expensive in puts with cheap grain prices. Even if it is only 25% now and scaled as the time comes. Also could do 10% of 24 crop and scale as it comes and opportunity knocks.
 
(quoted from post at 06:39:22 03/05/22) So start selling some of next years crop while it is up .
Click to expand...
I won't sign anything unless I have the grain in the bin to sell. Too many guys got burned on that this past year having delivery contracts to fill and not enough grain to fill them due to the drought. We saw spring wheat price hit $14 (briefly) a few days ago. What I just sold for $12.49 still looks pretty good since it was less than $7 at the time I harvested it. Just lucky and it does not always work that way. These high grain prices are very necessary now with fuel prices and everything else going wild. I hear pump gas could hit $2 a litre this spring.
 
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