Sell your crop on your terms, not the market’s.
A marketing plan built around your cost per bushel — from planting through storage — for spring wheat, winter wheat, corn and soybeans.
The crops we hedge, and where they trade
Spring wheat
Hard red spring wheat — the Minneapolis contract, the closest match for northern Plains and Montana spring wheat.
Winter wheat
KC hard red winter and Chicago soft red winter wheat futures and options.
Corn
For growers selling corn — and for feeders buying it.
Soybeans
Soybeans, plus meal and oil for processors and feeders.
Your elevator contract is only one option
Futures and options let you price bushels without committing to a buyer or a delivery date.
| Cash forward contract | Futures hedge | Put options | |
|---|---|---|---|
| Locks in | Futures and basis | Futures only | A futures floor |
| Upside if prices rally | None | None | Kept, minus premium |
| Margin calls | No | Yes | No, for option buyers |
| Tied to a buyer | Yes | No | No |
| If the crop comes up short | Still owe the bushels | Hedge can be lifted | Puts can be sold back |
A marketing plan in four steps
- 01Know your cost per bushelTotal cost per acre divided by expected yield.
- 02Set price targetsDecide in advance what share of the crop to price at which levels.
- 03Hedge what you’re confident you’ll growUsually kept within insured bushels until the crop is made.
- 04Manage basis and storageSell when your local basis and the futures carry pay you to.
Questions growers ask
Which wheat contract should I use?
Generally the one whose price moves most like your local cash bid. Spring wheat growers usually look at Minneapolis; winter wheat growers at KC. We can check your local history against each.
How does hedging fit with crop insurance?
Revenue coverage protects bushels you might not harvest, which gives many growers confidence to price part of the crop before harvest. Talk with your agent about your specific policy.
How many bushels is a contract?
Standard wheat, corn and soybean contracts are 5,000 bushels each.
Should I store or sell at harvest?
It depends on the futures carry, your local basis, storage cost and cash flow. That’s the conversation to have in August, not November.