Grain News – Lock in your Future Price
Hope everyone had a Merry Christmas!
Both corn and beans had a bit of a dip during this holiday season. The explanation I have seen for the drop in price is other countries including the UK and South America have had better grain numbers than expected. With all of the new technologies and information on growing crops I would assume you are not surprised when yields are higher than expected. I would be confident in saying that great yields every year is to be expected, unless significant weather issues occur.
However, looking in to fall 2019 the numbers seem to have not taken as much of a hit. Even looking into fall 2020 the numbers are still positive. Locking in a HTA for 2020 is a way to lock in your future price and set your basis when they are available.
As 2018 comes to an end, you should have a small percent of your grain for next year contracted. If you are unsure of when you should market or how much to contract contact your local grain marketing specialist.