Pro Farmer Crop Tour 2014 Thoughts
Last night I got the opportunity to head to Rochester MN to take part in the Pro Farmer crop Tour Final stop.
Like we have been hearing since spring, the 2014 crop is going to be a big one. The tour found record yields in some states (Illinois leading the pack), and others were not as impressive as originally thought (Minnesota is behind last year). Over all the majority of the crop is in great health. However, keep in mind the corn and soybeans are not in the bin yet. In order to make an excellent crop we need the first killing frost to hold off until after October 10th
After hearing this information it makes it even more crucial for everyone to take a look at their marketing plan for the 2014 and 2015 crop season. It is vital to know your cost per acre and estimated yield for your operation.
Given the potential for above average yields, several things need your consideration:
1. High yields can significantly change your break even
2. Current market values may be profitable
3. You may not have enough storage space for your crop
Stop in to one of our offices to let us help you navigate the months ahead.
Kaycee PronschinskeWHAT CAN I FIND ON THE CUSTOMER ACCOUNT LOGIN TAB.
Need to know how many loads of grain you delivered? How many bushels remain on your contract? What my tickets and prices are on my settlement? Go to the Customer Account Login tab on the left side of our website. You will need to call one of the offices to obtain a user and password to access your account securely.
WHAT IS DEFERRED ASSESMENT FEE?
As per Wisconsin statutes 126.15 (6) This is a fee imposed by the State of Wisconsin for any grain which is not paid for when delivered.This includes price later contracts and deferred payment contracts. A price later contract does change ownership of the grain from producer to Buck Country Grain, therefore a fee is deducted from gross proceeds at the time of pricing. The calculation is gross dollar value x $0.0035
WHAT IS A HEDGE TO ARRIVE CONTRACT?
A contract in which the farmer initially sets a futures price with the basis to be fixed later; cash price is determined by prevailing basis at the time of pricing. Pricing must occur on or by delivery. Change of ownership occurs upon delivery of grain.
PRICE LATER OR DEFERRED PAYMENT CONTRACT: WHICH SHOULD I CHOOSE?
The main difference between the PLC and deferred payment contract is this: