Salt Fork Farms
Peg Hemmelgarn · Thayer County, NE · Katie Rennick · client since 2016
67k bu at 76% priced · 333 head at 68% sold
$767.2K under management
Self directedCosts are estimatesLast spoke in 16 days6 other findings(785) 555-9230
5,000 bu is priced on the board with the basis still open, so the average price below is an estimate on those bushels rather than a number. Somebody has to ring the elevator and fix it, or tell Peg Hemmelgarn plainly that this part of the position is not fully priced yet.
Contracts
9
50k bu priced, 76% of expected production.
Revenue locked
$547,887
$121,410 of it over break-even.
Basis left open
5,000 bu
Board locked, cash price not yet settled.
Sold, not hauled
44k bu
Contracted bushels that still have to physically move.
Contracts
| Priced | Crop | Instrument | Bushels | Board | Basis | Net cash | Over cost | Delivery |
|---|---|---|---|---|---|---|---|---|
| Apr 29, 2026 | Wheat new crop | Basis | 3,700 bu | $6.15 | -$0.29 | $5.86 | +$0.84 $3,108 | Jul 2027 Hebron Farmers Co-op Not hauled |
| Apr 26, 2026 | Wheat old crop | Forward/HTA | 5,000 bu | $5.26 | -$0.32 Open | $4.94 estimate | -$0.11 -$550 | Aug 2026 Hebron Farmers Co-op Hauled |
| Apr 25, 2026 | Corn new crop | Forward/HTA | 20k bu | $4.51 | -$0.23 | $4.28 | -$0.16 -$3,136 | Dec 2026 Hebron Farmers Co-op Not hauled |
| Mar 14, 2026 | Corn new crop | Basis | 7,000 bu | $4.34 | -$0.20 | $4.14 | -$0.30 -$2,100 | Dec 2026 Hebron Farmers Co-op Not hauled |
| Feb 27, 2026 | Wheat old crop | Basis | 1,900 bu | $5.59 | -$0.37 | $5.22 | +$0.17 $323 | Aug 2026 Hebron Farmers Co-op Hauled |
| Feb 14, 2026 | Wheat new crop | Cash | 1,700 bu | $6.02 | -$0.33 | $5.69 | +$0.67 $1,139 | Jul 2027 Hebron Farmers Co-op Not hauled |
| Jan 16, 2026 | Wheat old crop | Forward/HTA | 2,100 bu | $5.41 | -$0.29 | $5.12 | +$0.07 $147 | Aug 2026 Hebron Farmers Co-op Not hauled |
| Jan 5, 2026 | Wheat new crop | Cash | 5,500 bu | $6.10 | -$0.27 | $5.83 | +$0.81 $4,455 | Jul 2027 Hebron Farmers Co-op Not hauled |
| Oct 23, 2025 | Wheat old crop | Forward/HTA | 3,900 bu | $5.37 | -$0.30 | $5.07 | +$0.02 $78 | Aug 2026 Hebron Farmers Co-op Not hauled |
Net cash is the board plus the basis, which is the only price the family is actually paid. Where the basis is open the stored figure is today's estimate rather than a settled price, so the average across the account moves until somebody fixes it.
What was advised, and what they decided
| Date | Crop | Outcome | Recommendation |
|---|---|---|---|
| Jun 13, 2026 | Wheat | Declined | Recommended fixing basis, client wants to see spring |
| May 31, 2026 | Wheat | Priced | Priced the next tranche at the elevator, board plus basis |
| Mar 24, 2026 | Corn | Check in | Updated break-evens from their books |
| Mar 14, 2026 | Wheat | Agreed, not yet executed | Agreed to place a resting order at the next target |
| Feb 8, 2026 | Wheat | Priced | Fixed the basis on an open HTA |
| Jan 7, 2026 | Corn | Check in | Updated break-evens from their books |
| Oct 16, 2025 | Corn | Check in | Walked through the position and the ladder |
TODO: the contact history in this demo is synthetic. These are invented conversations and they must be cleared before anybody outside the desk sees this page. The record itself is the point: it is the least glamorous thing in the product and probably the most valuable.