So here we are now already into the 2017 crop year. I have made no physical corn sales yet, but have made a recommendation to sell wheat puts which I believe will produce a 35 cent boost to our cash sales, and I recommended shorting December oil, which I believe will produce around another 30 cent boost. I expect to have a 65 cent premium on top of our cash sales.
June 8, sold 10% of expected 2017 production at $10.05
Nov 28, sold 10% of expected 2017 production at $10.36
Jan 12, sold 30% of expected 2017 production at $9.95
Jan 12, bought serial puts on 50% of 2017 for .10
This should have us 50% cash sold for an average of 10.05. The options premium will come off the next 50% to be sold.