How much spring wheat are you sitting on? Percentage of 2021 production left to market?
Our area was drought stricken, the price increase might not be enough, hrsw and barley bushels or production on dry land down. Of my last 25%, I’m thinking waiting until 24$ a bushel because at some point we’ll realize how short hrsw, barley, and hay we are.
Do what you want, but are you confident that we are that short world wide on quality wheat with how soybeans ending stocks keep growing on a monthly basis.
I feel like it's a waiting game right now.
If we don't get widespread spring moisture, the price will be strongly supported. We could see a another big jump higher.
If we get rain, the price will probably go down. Could knock a few bucks off wheat real quick.
Prices in general are supported by cheap money...which may temporarily wane next year.
Long-term I'm quite bullish on the supply/demand of grain. But I'm an optimistic farmer :)