Pro Farmer’s Daily Advice Monitor

Pro Farmer editors provide daily updates on advice, including if now is a good time to catch up on cash sales.

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July 19, 2024 02:26 PM

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*Note: Check below daily to see if we recommend catch-up sales for individual markets.

Corn
Cash-only marketers	2024 crop: 30% sold
Hedgers — cash sales	2024 crop: 30% sold
Hedgers — futures/options	No position.
Get current with advised sales. Our next sales target is $4.75 in March corn.
Soybeans
Cash-only marketers	2024 crop: 20% sold
Hedgers — cash sales	2024 crop: 20% sold
Hedgers — futures/options	No position.
The downside is overdone. Wait on an extended corrective bounce to extend sales.
Wheat
Cash-only marketers	2024-crop: 70% forward sold. 2025-crop: 20% forward sold.
Hedgers — cash sales	2024-crop: 70% forward sold. 2025-crop: 20% forward sold.
Hedgers — futures/options	none
Wait on an extended corrective bounce to extend sales.
Cotton
Cash-only marketers	2024 crop: 35% forward sold for harvest delivery
Hedgers — cash sales	2024 crop: 35% forward sold for harvest delivery
Hedgers — futures/options	No position.
Wait on an extended corrective rebound to advance cash sales.
Livestock
Cattle
4th qtr. 2024	0%
1st qtr. 2025	0%
2nd qtr. 2025	0%
3rd qtr. 2025	0%
Fed cattle producers should continue to carry risk in the cash market.
Hogs
4th qtr. 2024	0%
1st qtr. 2025	50%
2nd qtr. 2025	0%
3rd qtr. 2025	0%
Maintain the 50% first-quarter hedges in February $84.00 puts at $3.35.
Feed
Corn
4th qtr. 2024	100%
1st qtr. 2025	0%
2nd qtr. 2025	0%
3rd qtr. 2025	0%
You have all corn-for-feed needs covered in the cash market through December.
Meal
4th qtr. 2024	100%
1st qtr. 2025	25%
2nd qtr. 2025	0%
3rd qtr. 2025	0%
You have all soymeal needs covered in the cash market through the third week of January.

Advice Monitor