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We will only be able to price grain during the hours that the Chicago Mercantile Exchange is open and trading. Market is closed from 1:15pm to 7:00pm. Any sales offers while the market is closed will be entered as a target offer.
With crop prices dropping so much over the last few months many people are at a loss as to what to do. What may be one of the better options is to use a Minimum Price Contract, especially if you have some cash flow needs this fall. With the MP contract you can sell some grain this fall and remain in the market to participate in a potential price rally. With this contract you have no risk of prices going lower as you would with a Price Later Contract or open storage. There is a cost involved with the MP contract which varies with prices each day and also by the length of time that you would like to stay in the market.
An example using today's prices:
Minumum Price contract new crop corn
$2.96 cash corn, March futures at $3.51, Minimum Price fee $.22 per bushel(cost of the option).
With the above prices you would have a mimimum price of $2.74 ($2.96-$.22) and be able to participate in a price rally of the March futures above $3.50 through February 20th. You would receive the $2.74 at delivery with no additonal cost.
Attention livestock farmers and feedmill operators, Would you like to purchase some or all of your corn needs for the next several months at what may be the lowest prices of the year? We are able to contract sales for any timeframe up to 12 months.
New grain bin going up to help us serve our customers.