take prices on the July 2009 soybean contract back to $10.80- $11.80 price level next spring and summer.
KNOWING WHICH TOOLS TO USE How do you know which of the three marketing tools to use? The answer is that you use all three. The farmers who were satisfied with the price and made scale-up decisions selling cash and new crop based on acceptable profits ended up with an excellent average price and some really good new-crop contracts to deliver on.
The producers who used time and especially the concept of seasonal selling in the May-July time period hit a home run with great cash and new-crop sales in that three-month profit zone. July soybean futures rallied up to a major high at $16.53 on July 3, 2008. From that,
Looking ahead, the producers high prices fell through trendline support at $15.50. Prices have stayed below the who are willing to sell on the re- downtrend through September of 2008. tracement rally back next spring will have a great second opportunity if they have the discipline to sell. If you use motion instead of SOYBEANS JULY 2009 WEEKLY emotion, you increase the chance of making the right decisions, and you will have more success increasing your profitability.
INVALUABLE TOOL
Order Alan Kluis’s 2009 marketing calendar. The calendar offers key dates for USDA reports, monthly seasonal odds, basis information, a plan-ahead marketing checklist, and more. To order, visit www.successfulfarmingbooks.
c om or call 8 00/678-5752. E ach calendar i s $30, plus This chart shows prices rallying from the $8.16 low in May of 2007 to the initial high s hipping and at $14.77 before dropping down to the March 2008 low at $11.02. The soybean market h andling. peaked at $16.50 on July 3, 2008, before plunging lower into the fall of 2008.
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