The Fort Wayne Farm Show kicked off Tuesday at the Allen County War Memorial Coliseum. Hoosier Ag Today was there broadcasting from Louis Dreyfus booth C309.
Louis Dreyfus Farmer Origination Specialist Ryan Martin says they’ve been busy recently with soybean futures at strong levels.
“The board of trade has done some work for us, yes, with the futures in that $13 to $14 range where we find ourselves for a good chunk of December and into January. Yes, we’ve been busy on that front. We were busier, I think, in December based on trying to get some coverage to get through the holidays. So, basis pushes were coming into play a little bit, and so we were busy then, but, yes, beans are moving now. Remember, it’s just after the first of the year. After the turn of the year, what does everybody need? Money. In agriculture, we need money. So, now is the time to sell because you can then take that income in the new year.”
And while it’s hard to predict what the futures markets will do, Martin believes now is a good time to sell.
“To be clear, this is not just a grain buyer talking to you. I’m a farmer as well, and I look at it from the standpoint that where our prices and value is potentially heading in the future… I see a much bigger downside risk. I think there is a much bigger risk of $9 or $10 beans than there is $14 beans, and that is even with this South American ‘weather scare’ that we’ve been dealing with here recently. So, in that regard, is it a good time to sell? Heck yeah! Prices are still pretty doggone good, and at 20 (cents) over (March futures), you’re still getting near $14 a bushel for soybeans.”
You can hear more with Martin in the full HAT interview below. The Fort Wayne Farm Show continues on Wednesday from 9am-8pm and on Thursday from 9am-4pm.