As prices go higher for corn and soybeans, Global Commodity Analytics and Consulting President Mike Zuzolo advises farmers to lock in profits if you have them. “The profit per acre mindset has to be really at the top of your mind at this point, because we don’t know the aftermath of the election,” says Zuzolo. “Especially if you’re in a low production area and you see futures go higher and the basis doesn’t offset by getting wider and you see basis narrow, that profit can’t be turned away.” This could be a time for the old “sell and defend” strategy. “You could sell the cash, lock in a profit and come back in and buy into the springtime with the futures or options and then, take a look at what the Brazil and U.S. hard red wheat weather looks like when we get into January or February.”
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