Tough Decisions at Uncomfortable Prices

It's mid-February, and instead of the usual spring buzz, grain markets feel flat. Prices aren't terrible, but they're not good either. And that's exactly the problem.

In this episode of Hedge Heads, Jon Prischmann and Ryan Tungseth dig into what might be one of the toughest decision windows producers have faced in years. Soybeans have rallied, but widening carries and weak export numbers raise questions about how real it is. Corn is hovering in a range that feels vulnerable, with new crop decisions getting made at levels that may or may not hold.

They break down practical strategies for both old crop and new crop, including why expensive puts are hard to justify, how some producers are approaching small percentage sales, and why doing nothing is becoming an increasingly common choice. The conversation also turns to cattle, where record prices and broken margins are creating opportunity, risk, and even talk of farm diversification.

If you feel like you're at a crossroads with no clear map, this episode is for you. It's not about perfect answers. It's about managing risk in a year where the usual playbook doesn't quite apply.