I've used the futures, but if you need to decide what your goal is in regard to the three pricing components, futures, basis and flat price. If all you are concerned about is a better flat price you should contract ahead for sale at a later date, this strategy will also get you a decent basis gain at this time.
If you are looking to take advantage of an increase in the futures market you might be better off buying a put that is out of the money. Doing that you would only be risking the price of the put.
Figure the cost of storage and interest on the money that you are going to store in the machine shed plus the handling cost, shrink and management risk and figure that cost against the cost of the put.
I've studied this stuff for 20 years and am not a professional, there is no simple answer or single strategy. I do think that unless you are already set up to store the grain you would be ahead to move it to market and own it on paper with some hedging strategy.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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