Whenever you contract ahead you are protecting yourself from the down side, but you are also locking out the chance for a higher profit if the price goes up. If you are highly leveraged, maybe even on the brink of disaster and need to guarantee the banker at least enough of a positive cash flow to service your short term loans you do need to sell ahead.
I have contracted ahead a few times and it didn't help me sleep any better because I was afraid I had locked myself out of a bigger profit. Every time I sold ahead, except for one time, the current local price was higher than the price I had contracted for, at delivery time. I have a feeling we won't see prices drop a whole lot anytime soon. Bad for the end user but good for us farmers. Jim
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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