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
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 ...More
With market low will they help me?
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.
If it's at a decent price see if your neighbor wants to sell some to cover it win both ways.
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...More
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...More
Luck you only have to deal with 5,000
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...More
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...More
Did this a couple years ago in 19 when everything flooded. I ended up buying the difference. Luckily prices had dipped tremendously from the...More
Can you explain more about your dads advice on contracting over your break even price?
What is you futures month you sold in and what is you futures price and your basis?
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...More
Talk to your elevator but your Options would be Roll it, Cancel it, or buy grain to cover it.
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 ...More
There could be a act of god clause in your contract to use if you are on the losing side of the price
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 ...More