Connection Winter 2013 | Page 13

RECAPS GRAIN to sell another 30 percent. We also have several producers who have begun contracting next year’s crop. We strongly encourage our producers to develop a market plan and consider beginning to market next year’s grain crop. As this is written, December 2014 Corn Futures are trading at roughly $4.66 and, though we have sold the last several crops much higher than this price, it is a good price to get started. The projected prices for new crop are still a big question mark. What we know is that the corn yields this year are likely to exceed 160 bushels per acre. The harvested acres is a wild card. The U.S. has lost a significant portion of our export business to the Black Sea Region and Brazil, and U.S. corn demand for ethanol should recover some, but very little in feed. United Ag has many ways to help you create pricing floors while limiting production risk. Please contact the grain division to learn more about contracting or to start contracting. We have been putting checks in the mail lately. In the last two months, we have made two milo progress payments totaling $5.00 per cwt and one corn progress payment for $2.50 Main Bank 202 E. Jackson Street P.O. Box 470 El Campo, Texas 77437 (979) 543-3349 United Ag has many ways to help you create pricing floors while limiting production risk. per bushel. We have sold and priced all of the milo and corn marketing pools at this time, but are still shipping on these contracts and being paid. We still have a call position in place and will keep this on until we can capture a few cents on a small rally or until they expire. At this time, we will look to pay out the remaining equity in both pools. We are proud of this year’s marketing pool performance and attribute its success to marketing a portion of the crop starting in October of 2012. Also, United Ag recently began distributing the United Ag’s Reward Program checks. These were earned by producers who purchased a percentage of their inputs from the coop and marketed their grain through the elevator. Please contact the grain department or agronomy department to find out more about this program