Well It is a long subject to explain here. There are several options you have for next year. As this year is pretty much in the can. I would take an up day and let them go, chalk the rest up to experience. For next year you can do any of these options ( forward contract, hire them hauled to a different location of your choice off the field, or spend for storage at home then move them as you wish). There are other options for next year also,though not sure for the quantity that they would work good for you. There is Basis contracts,hedge to arrive contracts, and then the previous ones mentioned. They all take some management. I guess it will depend on how dedicated you are to it. The current market has broke through resistance and not fell below support so it is still any body's guess. I have locked in some this week with the movement upward. I still have some left to do something with also. With all of these contract options remember if you default (not able to deliver) on them you will get penalized for this. Another words if you contract 1,000 bushel and don't have it you will be charged back on the difference. This will be only if the contract price is below the currant cash price. If you are above it they will just let it expire with no penalty. Now this information is for the Michigan market area and worth just what you paid for it. Your area and grain facilities may have different ideas and options available. If you wish more information look into marketing workshops for your area during the winter. Or you can bend the ear of your local elevator guy. Both should be willing to help though not reveal any of their secrets. I can give you nore detailed information if you like call me at 989 413 5684 or at my email though I only check it about once a week or less, unles I am expecting something.
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