Bluestem Farms

Tessa Jansen · Clay County, KS · Katie Rennick · client since 2019

552k bu at 77% priced

$2.9M under management

Price to the planCosts from their booksLast spoke in 45 days2 other findings(785) 555-4727

Position Plan Working Orders Sales Break-evens Livestock Recap

Every rung on every ladder clears this family's cost of production plus the desk's $0.10 cushion, and nothing has passed its sell-by date. The plan is doing its job.

Soybeans new crop · Nov 2026

Break-even $9.99 · cash bid $10.78 · 68% priced against a 72% pace

Ladder covers 74% of the cropGuarantee 55k bu

Rung	Price	Over cost	Tranche	Away from the bid	Sell by	State
1	$10.58	+$0.59	15% 12k bu	Filled	May 9, 2026 4 months ago Window Feb-May	Hit
2	$10.96	+$0.97	19% 15k bu	Filled	Jul 9, 2026 46 days ago Window Feb-May	Hit
3	$11.58	+$1.59	15% 12k bu	Filled	Sep 9, 2026 in 16 days Window Feb-May	Hit
4	$12.11	+$2.12	25% 20k bu	$1.33	Nov 9, 2026 in 3 months Window Feb-May	Working

Milo new crop · Dec 2026

Break-even $3.52 · cash bid $3.86 · 73% priced against a 72% pace

Ladder covers 76% of the cropGuarantee 153k bu

Rung	Price	Over cost	Tranche	Away from the bid	Sell by	State
1	$3.72	+$0.20	15% 27k bu	Filled	May 9, 2026 4 months ago Window Feb-May	Hit
2	$3.92	+$0.40	21% 38k bu	Filled	Jul 9, 2026 46 days ago Window Feb-May	Hit
3	$4.07	+$0.55	19% 34k bu	Filled	Sep 9, 2026 in 16 days Window Feb-May	Hit
4	$4.28	+$0.76	21% 38k bu	$0.42	Nov 9, 2026 in 3 months Window Feb-May	Working

Milo old crop · Sep 2026

Break-even $3.97 · cash bid $3.72 · 93% priced against a 95% pace

Ladder covers 79% of the crop

Rung	Price	Over cost	Tranche	Away from the bid	Sell by	State
1	$4.20	+$0.23	15% 22k bu	Filled	Aug 9, 2026 15 days ago Window Feb-May	Hit
2	$4.36	+$0.39	24% 36k bu	Filled	Oct 9, 2026 in 46 days Window Feb-May	Hit
3	$4.57	+$0.60	25% 37k bu	Filled	Dec 9, 2026 in 4 months Window Feb-May	Hit
4	$4.86	+$0.89	15% 22k bu	Filled	Feb 9, 2027 in 6 months Window Feb-May	Hit

Wheat new crop · Jul 2027

Break-even $4.89 · cash bid $5.75 · 72% priced against a 72% pace

Ladder covers 54% of the cropGuarantee 59k bu

Rung	Price	Over cost	Tranche	Away from the bid	Sell by	State
1	$5.10	+$0.21	15% 11k bu	Filled	May 9, 2026 4 months ago Window Feb-May	Hit
2	$5.45	+$0.56	21% 15k bu	Filled	Jul 9, 2026 46 days ago Window Feb-May	Hit
3	$5.64	+$0.75	18% 13k bu	Filled	Sep 9, 2026 in 16 days Window Feb-May	Hit

Wheat old crop · Sep 2026

Break-even $5.28 · cash bid $5.20 · 66% priced against a 95% pace

Ladder covers 54% of the crop

Rung	Price	Over cost	Tranche	Away from the bid	Sell by	State
1	$5.54	+$0.26	15% 11k bu	Filled	Aug 9, 2026 15 days ago Window Feb-May	Hit
2	$5.80	+$0.52	16% 12k bu	Filled	Oct 9, 2026 in 46 days Window Feb-May	Hit
3	$6.13	+$0.85	23% 17k bu	Filled	Dec 9, 2026 in 4 months Window Feb-May	Hit

Rungs are sorted by price rather than by the order they were entered, because a scale-up ladder only reads as a ladder in price order. Distance is measured from the cash bid, which is the board plus the local basis, not from the board alone.

A rung that filled before its date is done rather than overdue. The desk's cushion over break-even is $0.10, because a break-even is itself an estimate and pricing exactly at one is pricing at the midpoint of an error bar. On this crop that means a rung has to clear $10.09 to count as clearing cost.