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 - Talk of the Town: Winterizing Engines - To Drain or Not to Drain? - by Russ Berry. What is this strange attraction I have to equipment and machinery? How did I get this way? I came from the suburbs and own a small horse farm in rural Loudoun County, Virginia. You can call me a "weekend farmer." The local farmers do. Does it bother me? No. I am just happy to have their friendship. At least the word "farmer" is in my title. But what is the attraction? How can I explain the sensation and exhilaration I feel when I turn the key and hear the engine come to life (most
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