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Farmers should consider old-crop sales before harvest

The president of Heartland Farm Partners says there’s opportunities for farmers take advantage of the recent strength in commodity markets.  

Jeff Peterson says producers should focus on marketing their old crop grain heading into harvest first, and then, “Secondly, maybe if you’re behind on forward selling, use a bounce in the market based on what we had in the WASDE report to work on getting bushels sold that you’re need to move to town during harvest and will need for cash.”

Peterson tells Brownfield there’s the potential for prices to drop ahead of harvest. “If we start anticipating and see some bigger yields coming out of the U.S., you may need to price additional new crop, or it gives you the green light to wait a little bit on new crop sales.”

He says farmers should be flexible when selling their grain and not hold out for higher prices since there’s been a lot of volatility.