Home Indiana Agriculture News Purdue Ag Economists: Now is the Time to Act on 2019 Crop

Purdue Ag Economists: Now is the Time to Act on 2019 Crop

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Purdue ag economists Jim Mintert and Michael Langemeier agree that now is the time to act on your 2019 crop you’re still holding onto.

Mintert says, “So, this is that environment where we have a tendency, almost every year, to see some kind of a rally take place with respect to crop prices. I’m not going to say you should sell today but I think you should be looking very hard at whether not this is going to be the time for that rally.

What timeframe should you be looking at to unload your old crop? As Mintert mentioned before, he wouldn’t say to move today, per se, “But from a longer-term perspective, this is the time when you want to be moving.”

“So, whether you choose to move today, maybe wait a few days and see how the weather plays out, over the next week or two could be a good opportunity to move out those remaining old crop supplies and perhaps do some pricing on the new crop,” says Mintert.

Langemeier agrees, especially as it relates to soybeans.

“There’s quite a bit of risk as you hold those beans into July and August. So, I definitely think you should start to think about marketing some of those old crop soybeans soon. It’s very difficult, of course, to pick a day, or pick a week even, to do that, but just keep in mind that you’re going to have quite a bit of volatility, quite a bit of risk, associated with holding those beans any longer than about 2 to 4 weeks.”

Mintert, the director of the Purdue Center for Commercial Agriculture, and Langemeier cohosted a webinar and podcast last week to discuss this, the recent WASDE report, and land values, among other things.

You can find the webinar and podcast at this link.