Where are corn prices heading???

[Jonathan Dansel]

Trying to figure out what to do with my corn bushels that i did not have contracted before harvest...I can get $5.55 picked up at the field out of our grain storage bags now....with some speculation that we could see $7 corn, what do i do???  $5.55 will make me great profit, am i stupid for not taking that and running!?  This last two years if i jumped one way the market went the other, i'm tired of that!  I can sell at that price and get a "triple" but part of me wants to hit the "homerun".  thoughts??

[Morgan McNeal]

Well its all up to your risk preferences. Just with me being in the early stages of my farming career, if it is going to make me a profit and will pay the bills, ill take it and move on. Ive worried myself sick over prices before and its just not worth it. But if you have room to work with prices a little bit and dont mind holding on then again its just up to you.

[Shawn]

My contract average for this year is well under what market price is. but i sleep well knowing i had a solid profit.

[Craig Bolte]

Singles and doubles man (and triples). There will always be woulda coulda shouldas. I like to compare it to my co-ed softball team. we aren't that good, we only have one guy that can consistantly hit a Home run. But a lot of us can hit singles and doubles. If you can string those together over an inning, then you can score some runs...... To equate that back to farming - sell some at $5.55. Depending on your profit margins - you might consider this a single a double or a triple. Then watch. Maybe it actually goes to $7. Then sell some more. Do this several times over the course of the inning (year). You'll be stringing together several doubles......

Maybe it falls to $3.75. Then you'll be hitting singles again (or stirking out).

Risk is a big part of it - but if you are hitting doubles - you'll be scoring runs.

Like several said above - if you are making a good profit - you should be taking advantage of at least some of it.

Just my humble opinion.

[Matt]

I would take the $5.55 for the corn. Its a good solid price, and of course we always want more. The only thing with the markets now a days it could fall tomorrow backdown to $3.00. You could also save corn and wait for the $7.00, just incase it does come around.

[Jonathan Dansel]

Ag Day yesterday said that the next report is coming out i believe next thrusday...they were predicting the national average dropping another1.5-3 bushels...i think i will sell some here this week, then wait for the report to come out and if it is what i think it will be...i think there will be alot of $6 cash corn sold around here anyway. Thanks for everyones input. It's hard to go broke if you know you can sell and make good money....as a young guy starting out, part of me kinda wants that "homerun" to build up some more cash to be able to better step out there and do something in this next year in the way of buying some ground, paying a little higher cash rents, etc. Thanks again guys.

[Mike J]

Risk to reward ratios are what farmers deal with everyday. Always safe to know what you can afford to risk and what you stand to gain, each person decides at what point they go beyond a reasonable risk and turn into more of a speculator. Lots of great advice from everyone, probably shows why the ag industry doesn't dig the financial holes that other industries do.

[Glen Groth]

Take the 5.55, put it in the bank to collect interest on it, prepay for inputs if you can get a deal, take the early order discounts on seed. You can't do any of that if you wait for that extra buck.

[Dutch Dirt Farmer]

I would sell enought to buy all your input at that price then keep the rest to play with and get the top dollar or watch it go down. one of the two. Then you are covered for next year then.

[Jonathan Dansel]

great advice...i already did that with the bushels i had contracted...didn't plan it that way but that is something for me to keep in mind in the future. thanks

[David Ernst]

Do some at the great profit levels, save a little to play with. Considering you can pay all the bills with what you have sold. Home runs are hard to hit. And looking back, a few months ago, $5.50 was a home run.