> Ryssdal: Yes. What about prices? When you take it to market — or when you’re going to take it to market — are you selling futures?
> Hemmes: Well, a lot of people do that. I forward cash grain, or forward contract. Right now, I could sell delivery in March and set my cash price, or set the basis. A lot of people do options to set that bottom. But I’m telling you, Kai, I need some kind of collar because of the whiplash I’ve been getting from these markets — they’re up one day 50, down 40 the next, and everything adds to it.
> Ryssdal: Have you sold your futures yet? Have you sold any of this stuff that just got in the ground?
> Hemmes: I have. I’ve sold about 30%. Our co-op gave me a heck of a bid. But it’s kinda like wait and see because this market just keeps going. Like soybeans are down 18 cents today and then they could go up 50 tomorrow. Who knows?
How an Iowa farmer pushes through less-than-average crop yields - https://www.marketplace.org/2023/07/27/how-an-iowa-farmer-pu...
> Ryssdal: Yes. What about prices? When you take it to market — or when you’re going to take it to market — are you selling futures?
> Hemmes: Well, a lot of people do that. I forward cash grain, or forward contract. Right now, I could sell delivery in March and set my cash price, or set the basis. A lot of people do options to set that bottom. But I’m telling you, Kai, I need some kind of collar because of the whiplash I’ve been getting from these markets — they’re up one day 50, down 40 the next, and everything adds to it.
Farming is “not easy and it’s a lot of risk,” says Iowa soybean producer - https://www.marketplace.org/2024/05/28/farming-is-not-easy-a...
> Ryssdal: Have you sold your futures yet? Have you sold any of this stuff that just got in the ground?
> Hemmes: I have. I’ve sold about 30%. Our co-op gave me a heck of a bid. But it’s kinda like wait and see because this market just keeps going. Like soybeans are down 18 cents today and then they could go up 50 tomorrow. Who knows?