Hedge Heads

For months, the message on corn was simple: don't get too aggressive and don't cap the upside. Now the market is finally starting to show why.

But the rally changes the conversation. For the first time in a couple of years, producers have enough margin to start considering different ways to protect profitable opportunities while keeping some upside open.

Jon Prischmann and Ryan Tungseth break down what has changed in the corn market, why strong demand and a potentially smaller crop have created a much different setup than the last two years, and why the next several USDA reports could matter more than usual. They dig into puts, calls, reownership and other ways to manage 2026 risk, plus why it may already be time to start watching opportunities in 2027.

They also tackle the sharp shift in cattle, what could derail the bullish corn story, and some increasingly interesting signals coming from the broader economy.

The grain markets are starting to look very different from the last two years. Strong demand is no longer being comfortably matched by expectations for another near-perfect crop, and that shift is bringing opportunities back into the conversation that producers haven't had much reason to consider lately.

Jon Prischmann and Ryan Tungseth break down why re-owning bushels is getting interesting again, why they're cautiously bullish on corn and soybeans, and why August may still be the wrong time to simply chase a market higher. They dig into limited-risk ways to participate in upside, the unusual structure of corn spreads, and why upcoming crop reports could matter considerably more this year.

They also look at opportunities developing in cattle and wheat spreads, and explain why cutting through the noise may be just as important as picking the right strategy in a rapidly changing market.

The grain market may be entering a new phase. Jon and Ryan break down the latest USDA report and why strong production numbers weren't enough to pressure corn, soybeans, and wheat the way many expected.

The key shift is demand. After months of talking about burdensome supplies, the market is showing signs that demand is beginning to chew through those inventories—and that could change how producers approach marketing decisions in the months ahead.

Jon and Ryan discuss what the post-report reaction is telling us about corn, why soybeans continue to show resilience, and how geopolitical uncertainty could add another layer of volatility to wheat. They also look at the risks of chasing a rally heading toward harvest and the strategies that could become more useful if pullbacks create opportunities to re-own grain.

Plus, the conversation turns to crude oil, the Dow, and a potentially changing trend in cattle.

The takeaway: this may be a more opportunity-rich market, but discipline still matters. Stay flexible, manage risk, and don't let a bullish move turn into an excuse to get greedy.

The last two years taught producers some painful lessons—but following those lessons blindly could create a whole new set of mistakes. Jon Prischmann and Ryan Tungseth explain why this year's combination of crop uncertainty, global conflict, energy markets, and shifting demand deserves a different marketing plan. They dig into why re-owning sold bushels could become an important strategy, how basis and spreads can tell you more than arguing over USDA numbers, and why wheat may finally have a more interesting setup. Plus, cattle are beginning to show warning signs after an incredible multi-year bull market, energy could become a bigger problem for the broader economy, and Jon has his eye on a new long-term market: copper.

Every year, producers face the same questions: sell, store, or hedge? This week, Jon and Ryan focus on building a plan before harvest forces your hand. They explain how marketing credit lines can make hedging more practical, why this year's crop isn't shaping up like the last two record seasons, what they're watching ahead of USDA reports, and why they're already thinking about opportunities to re-own grain. Plus, they wrap up with an update on cattle and where hedgers should be paying attention in the weeks ahead.

When markets become uncertain, most producers start looking for predictions. Jon Prischmann believes they're asking the wrong question.

This week, Jon and Ryan explain how professional hedging actually works, why every farm needs a different marketing strategy, and how today's changing grain markets are creating opportunities that haven't existed in years. They discuss when to protect downside risk, why maintaining upside potential matters, and how customized strategies can help producers navigate volatile markets without relying on guesswork.

Whether you're actively hedging or simply trying to better understand today's markets, this episode offers a practical look at the decision-making process behind grain marketing, along with updates on corn, soybeans, wheat, crude oil, cattle, and the key market drivers they'll be watching in the weeks ahead.

The weather has everyone's attention, but that's not the real story.

This week, Jon and Ryan explain why today's grain market is fundamentally different than the last two seasons. USDA balance sheets are tightening, demand remains solid, and weather is finally becoming a meaningful driver again. The result? A market with far more upside potential—and far more uncertainty—than producers have seen in years.

In this episode:

• Why this isn't another 2024 or 2025 market
• How weather could drive major price swings over the next two weeks
• Why funds are behaving differently this summer
• Strategies producers are using instead of simply selling cash grain
• What changing market conditions mean for your marketing plan
• Why knowing your cost of production matters more than ever

Plus, Jon shares why he's more optimistic about grain prices than he's been in quite some time, while Ryan prepares to leave for the one week the markets are almost guaranteed to get interesting.

After months of frustrating grain markets, something finally changed.

Jon Prischmann and Ryan Tungseth break down why this week's rally wasn't just another bounce. The way buyers stepped into the market, the confidence behind the move, and the follow-through all point to a market that may be behaving differently than it has the last two years.

The conversation covers the key corn price levels producers should be watching, why $4.70 to $5.00 could become important selling opportunities, and how to think about making catch-up sales without abandoning your marketing plan. They also discuss soybeans, China's renewed buying interest, weather uncertainty, and why this year's crop carries far more questions than recent seasons.

The episode wraps up with a reminder that's easy to forget during weather markets: nobody knows exactly where prices are headed. The producers who perform best aren't the ones who predict the future. They're the ones who already know what they'll do when opportunity shows up.

The June 30 USDA report had all the ingredients for another major setback in the grain markets. Instead, it may have marked an important turning point.

This week, Jon Prischmann and Ryan Tungseth break down why the report was far more constructive than many expected, what the surprising demand numbers could mean for corn, and why weather is now firmly back in the driver's seat.

They also discuss why this could represent peak bearishness for acreage, why producers should already be thinking about 2027 marketing plans instead of dwelling on old crop, and what opportunities may emerge if weather or demand shifts over the rest of the summer.

Plus:

• Why wheat acreage continues its historic decline
• What the latest demand numbers say about corn and soybeans
• Why now is a weather market
• Warning signs beginning to appear in cattle
• Jon's thoughts on the stock market, Japan, and why he's still waiting for a major correction

The biggest report of the year is finally behind us. Now the market has a chance to trade the story that's actually developing instead of the one everyone feared.

The grain markets have already done something unusual this year: they removed much of the weather premium before summer even arrived. Now all eyes turn to the June 30 acreage report, a release that could dramatically reshape the outlook for both corn and soybeans.

Jon Prischmann and Ryan Tungseth break down why this report carries so much weight, what acreage shifts could mean for carryout projections, and why corn may be much closer to a bullish balance sheet than many producers realize. They also discuss whether the recent selloff has already priced in the seasonal weakness that typically arrives this time of year, and what producers should be thinking about with old-crop grain as July approaches.

The conversation also covers soybean resilience, why funds continue to hold onto long positions despite mixed signals, opportunities surrounding report volatility, and the growing disconnect between feeder cattle and live cattle markets. If you're trying to navigate one of the most important reports of the year, this episode lays out the key risks, opportunities, and decisions ahead.