Verified FBN Member (TN)

Business

What to do if you booked to many bushels

Hello I’m a beginner farmer grain didn’t turn out like I wanted to I have about 5000 bushels that I’m not able to produce what is the process

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Verified FBN Member (IN)

You have to buy them back or rebook them at a discounted rate( usually .06 to .08 cents per bushel) for next year. Buy back will depend on ...

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Verified FBN Member (TN)

With market low will they help me?

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Verified FBN Member (CO)

Talk to who you booked it with. They’ll either let you roll it to next year or buy it out. Varies by who and how you booked it.

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Verified FBN Member (CO)

If it's at a decent price see if your neighbor wants to sell some to cover it win both ways.

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Verified FBN Member (WI)

(edited)

I have bought from a private grain elevator in the past to cover extra contracts and won on both ends. Collect insurance on bushels short a...

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Verified FBN Member (VIC, AUS)

Another option is to explain to a neighbour that you did a whoops ask if they will sell to you at market price I can bet they’ve been in the...

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Verified FBN Member (NE)

Luck you only have to deal with 5,000

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Verified FBN Member (ND)

(edited)

Had one Mill manager tell me if you push hard enough they will let you out. His exact word "What can we do it's not like we can come and ge...

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Verified FBN Member

Response deleted by author
Verified FBN Member (PA)

Usually the roll to the next crop year will depend on the Dec to Dec spread plus a fee for rolling 5-10c usually. Right now corn is gonna co...

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Verified FBN Member (NE)

(edited)

Did this a couple years ago in 19 when everything flooded. I ended up buying the difference. Luckily prices had dipped tremendously from the...

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Verified FBN Member (IA)

Can you explain more about your dads advice on contracting over your break even price?

Verified FBN Member (IA)

What is you futures month you sold in and what is you futures price and your basis?

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Verified FBN Member (MN)

It really depends on what it is you are selling and who you are dealing with. Every place is different we had a local issue that had farmers...

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Verified FBN Member (IL)

Talk to your elevator but your Options would be Roll it, Cancel it, or buy grain to cover it.

Verified FBN Member (NE)

I agree with iL guy. If you choose to get out of the contract. They will make you pay difference in cash that day. Don’t let them charge ...

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Verified FBN Member (MI)

There could be a act of god clause in your contract to use if you are on the losing side of the price

Verified FBN Member (NE)

I would see If you can roll the contract or if you have to buy it out. Generally we only book around 60 percent of our anticipated crop to ...

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