Don’t Be Afraid to Sell

MinnStar Bank farm management analyst Kent Thiesse sees the spring crop insurance prices as an opportunity to ensure a profit. “It’s a rare opportunity with crop insurance to be able to lock in the kind of guarantees that we got,” said Thiesse. “Yeah, it’s going to cost a little extra premium but don’t just look at the premium cost, look at what you’re protecting and how many dollars you are protecting.” Farmers shouldn’t be afraid to sell. “You’re selling new crop corn, soybeans and wheat at maybe the highest prices ever, don’t let the opportunity pass by.” Beyond what is in the bin or this year’s crop, Thiesse says ’23 can provide profitable prices if the farmer can protect themself in the futures or options market.