U.S. farmers should consider making some crop sales now, with pre-planting prices near record highs and with the government predicting record corn and soybean production, said David Baudler, the president of Cargill AgHorizons.
Growers should contract to sell at least enough of their anticipated output to cover production costs, Baudler said today at a U.S. Department of Agriculture forum in Arlington, Virginia. Cargill AgHorizons helps farmers manage risk and is one of 70 business units at Cargill Inc.
The USDA today predicted a corn crop of 14.53 billion bushels and soybean output of 3.405 billion bushels.
To contact the reporter on this story: Jeff Wilson in Chicago at firstname.lastname@example.org
To contact the editor responsible for this story: Steve Stroth at email@example.com