I have a fair bit of milo that is contracted $1.00/ cwt over current local prices and I have to call the price before jan. 1. The grain is already in the contracters elivater. Milo was harvested 10/31 and I chose not to sell thinking prices would rise but they have not. Local price is -5 of Dec corn price. What are your opinions. Been trying to follow other marketing threads but get discusted at all the BS posted by ICF and landbaron on irrivelant crap. There are no storage fees involved.
It is just a tough call, historically short crops have long tails, personnally, I have trouble sitting on grain at these high prices, esp if you are going to have to pay storage. I guess i assumed since you had it contracted, the price was set, is it a min. price contract? I could see prices rally going into the new year somewhat, how much we lose between now and mid. dec is the problem. around here endusers are starting to push basis a little to get their hands on some grain, if you are in feedlot country, see what they are doing basis wise, that may be where you see the price gain. if you have your basis locked in already, then I would price at least part of it on a rally, given the outside economic problems we are looking at. If you have grain in your own storage, that can be your gambling stocks on the market, not the grain you are paying storage on.