Weekly Market Outlook Oct. 17th-21st “The Heart of a Harvest Market”

Jarod Creed with JC Marketing has an insightful harvest market conversation with Chris. While some areas are experiencing poor yields, other areas are harvesting record yields. Most of the areas with high yields are also experiencing a slow dry down in corn moisture. Jarod talks about both situations. For the low yielding areas; it will be key to managing the bushels you do have, plus understanding your insurance policies. For the areas with high yields, managing basis, storage, and logistics will be key. Low river levels and a short crop in some areas may give continued strength to basis levels in many areas. Jarod gives some specific examples of what may drive basis levels to remain strong into the near future. Jarod also addresses several market fundamentals that could impact the markets in the next several weeks. Finally they discuss a number of strategies to consider as you market both of the 2022 and 2023 crops. Chris points out six “To Do’s” as you think through the strategy of marketing your 2023 crops. 1. Clearly identify and document your crop plan/rotation for 2023. 2. Calculate your estimated total production with your current 2023 plan. 3. Calculate your expected cost of production for 2023. 4. Identify “Your” acceptable profit margins for 2023. 5. Keep a close eye on the macro economic environment as we head toward 2023. 6. Place some price targets that accomplish your goals for 2023. Playing defense going into 2023 may be your best offense!! Be sure to listen to the entire podcast all the way to the end! This is an insightful conversation as we work through the heart of harvest!