“Thursday’s USDA supply-demand update pegged the average corn yield at a record high 175.4 bu/acre, up a major 3.6 bu from the October estimate and easily blowing past the average pre-report trade guess that had the yield at just 172.3 bu.”
A young grain producer and I were recently speaking about marketing and he expressed frustration in his quest to do a good job at pricing his crops. While he does an excellent job of producing his crops on the 1,000+ acres he farms, he feels out of his league when he ventures into the world of grain marketing at the CME. I acknowledged his concerns and encouraged him to keep learning as much as he could about marketing, and to practice a degree of patience.
I explained to this producer that achieving a level of comfort and success with marketing often takes years.