Pro Farmer's Daily Advice Monitor

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  • Sept. 29: No changes. 
  • Sept. 28: No changes. 
  • Sept. 27: Extend soybean meal coverage. Details below.  
  • Sept. 26: No changes. 
  • Sept. 23: No changes. 

 

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

Corn

 

Cash-only marketers

2022 crop: 50% sold for harvest delivery 

2023 crop: 0% sold

Hedgers — cash sales

2022 crop: 50% sold for harvest delivery  

2023 crop: 0% sold

Hedgers — futures/options

No positions

Wait on an extended rally to advance 2022-crop sales.  

 

Soybeans

 

Cash-only marketers

2022 crop: 60% sold for harvest delivery

2023 crop: 0% sold

Hedgers — cash sales

2022 crop: 60% sold for harvest delivery 

2023 crop: 0% sold

Hedgers — futures/options

No positions

Get current with advised sales.

 

Wheat

 

Cash-only marketers

2022 crop: 85% forward sold 

2023-crop: 30% forward sold for harvest delivery next year

Hedgers — cash sales

2022 crop: 85% forward sold 

2023-crop: 30% forward sold for harvest delivery next year 

Hedgers — futures/options

15% hedge in Dec. SRW futures at $7.83. 

Get current with advised hedges. Wait to advance cash sales. 

 

Cotton

 

Cash-only marketers

2022 crop: 70% forward sold for harvest delivery 

2023 crop: No sales advised

Hedgers — cash sales

2022 crop: 70% forward sold for harvest delivery

2023 crop: No sales advised 

Hedgers — futures/options

30% 2022-crop hedge in December futures at 99.58 cents. 

Get current with advised sales and hedges.  

Livestock

Cattle

 
3rd qtr. 2022 0%

4th qtr. 2022

0%

1st qtr. 2023

0%

2nd qtr. 2023

0%

Continue to carry risk in the cash market. Be prepared to hedge an extended rally in December live cattle. 

 

Hogs

 
3rd qtr. 2022 0%

4th qtr. 2022

0% 

1st qtr. 2023

0%

2nd qtr. 2023

0%

Traders are overly pessimistic toward fall- and winter-month contracts. Hedging at steep discounts to the cash market is not advised. 

 

Feed

 

Corn

 

3rd qtr. 2022 0%

4th qtr. 2022

0%

1st qtr. 2023

0%

2nd qtr. 2023

0%

You are hand-to-mouth on all corn-for-feed needs. current prices are attractive but wait on signs the downside is exhausted before extending coverage. 

 

Meal

 

3rd qtr. 2022 0%

4th qtr. 2022

33%

1st qtr. 2023

0%

2nd qtr. 2023

0%

Get current with advised soymeal coverage in the cash market. Be prepared to extend coverage on additional price pressure. 

 

 

 

Latest News

H&P report reflects larger than expected herd contraction

USDA estimated the U.S. hog herd has contracted to 73.8 million head as of Sept.1, down 1.1 million head (1.4%) from year-ago and 468,000 head smaller than the average pre-report estimate.

After the Bell | September 29, 2022

Grain, soybean futures end mixed ahead of USDA's quarterly stocks; USDA reports further hog herd contraction.

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.

Putin to Ratify Election Results | September 29, 2022

NATO rules Nordstream breech sabotage, Ian shuts-in some Gulf energy production and today's H&P Report expected to show mild herd contraction...

Market Watch | September 29, 2022

Sharp drop in cash corn and soybean prices over the past week.

Currencies
Analysts/economists keeping a close watch on major currency fluctuations

Sharp fluctuations in some of the world’s major currencies are injecting new uncertainty into the global economic outlook.