From 74 to 86 I worked as a commodity futures representative. That does not make my ideas about where the market is going to go, any more valid that anyone else’s. Since being out of the trade these twenty some years my trading record is better than it was when I was in the business. A part of the reason is that I have been in the market only when I felt strongly about where prices were going. Much of the time I was not in the market because of not paying attention to it or for other reasons not having to do with what I might have perceived, if I had studied it.
From your question, I assume that you think corn is going to go up and that because you have it to sell you want to sell at a higher price. You may be correct, it may go higher or it could go lower. I have not had a position in corn in several years but have been watching the market a little. With two or three phone calls I could take a position. I am not sure that it would be on the long side. Selling your crop and taking a long futures position in corn to off-set your sale may be the right or it could be wrong. You might be better off just selling at what you can get now and looking ahead to having another crop to sell next year. You might also consider selling next years crop now. If you have not been in futures before, rather than working with a large portion of your crop, it might be good to first take a small position. This would allow you to learn about the mechanics of the transaction and let you experience what being in the futures market is like. Since you raise corn and presuming most of the people you talk with want it to go up, you probably have developed a bullish bias. Remember there is always another crop of corn that is going to be harvested somewhere in the world in the next six months and yields are improving. The Chicago Board of Trade is where corn trades. www.cbot.com You can get information there. Below is a link to a long term price chart on corn. Please note the price peaks in the past have been of short duration.
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