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A defensive approach to grain marketing
A grain marketing specialist recommends a defensive approach to selling corn and soybeans.
Glenn Wachtler with Compeer Financial says growers “need to be on top of their game” going into the 2024 growing season.
“And really sell these rallies and sell the carry in the market, and look for any opportunities. Whether it’s weather, if we slide into the La Nina pattern again we could have some weather opportunities in this country. So let’s really stay on top of the opportunities we have.”
He tells Brownfield South American production is a major factor, and more will be known about the crop size in Brazil and Argentina in a few weeks.
“Now what’s going to give us some clarity I think is probably the world agricultural production report that comes out February 8th. That should lend us a little bit of clarity as far as talking about what yields may come out of Brazil (and) Argentina.”
He says farmers marketing 2023 grain should consider price targets and sale trigger dates.
Wachtler made these comments during an upcoming agricultural podcast, a content partnership between Brownfield and Compeer Financial.
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