Morning Star Ag

Grant Jansen · Jewell County, KS · Danae Kruse · client since 2017

627k bu at 62% priced

$2.6M under management

Self directedCosts are estimatesLast spoke in 30 days1 critical5 other findings(785) 555-4513

Position Plan Working Orders Sales Break-evens Livestock Recap

1 rung has passed their sell-by date with the bushels still unpriced. The plan prices those tranches on the calendar rather than the market, which is the whole point of writing a date next to a price. Either price them or agree a new date with the family and write it down.

Corn new crop · Dec 2026

Break-even $4.48 · cash bid $4.30 · 25% priced against a 72% pace

Ladder covers 53% of the cropGuarantee 211k bu

Rung	Price	Over cost	Tranche	Away from the bid	Sell by	State
1	$4.71	+$0.23	15% 37k bu	Filled	May 9, 2026 4 months ago Window Feb-May	Hit
2	$4.95	+$0.47	15% 37k bu	$0.65	Jul 9, 2026 46 days ago Window Feb-May	Time stop passed
3	$5.19	+$0.71	23% 57k bu	$0.89	Sep 9, 2026 in 16 days Window Feb-May	Due soon

Corn old crop · Sep 2026

Break-even $3.76 · cash bid $4.13 · 91% priced against a 95% pace

Ladder covers 50% of the crop

Rung	Price	Over cost	Tranche	Away from the bid	Sell by	State
1	$3.96	+$0.20	15% 31k bu	Filled	Aug 9, 2026 15 days ago Window Feb-May	Hit
2	$4.18	+$0.42	17% 35k bu	Filled	Oct 9, 2026 in 46 days Window Feb-May	Hit
3	$4.37	+$0.61	18% 37k bu	Filled	Dec 9, 2026 in 4 months Window Feb-May	Hit

Milo new crop · Dec 2026

Break-even $3.67 · cash bid $3.89 · 69% priced against a 72% pace

Ladder covers 52% of the cropGuarantee 84k bu

Rung	Price	Over cost	Tranche	Away from the bid	Sell by	State
1	$3.88	+$0.21	15% 15k bu	Filled	May 9, 2026 4 months ago Window Feb-May	Hit
2	$4.06	+$0.39	22% 22k bu	Filled	Jul 9, 2026 46 days ago Window Feb-May	Hit
3	$4.27	+$0.60	15% 15k bu	Filled	Sep 9, 2026 in 16 days Window Feb-May	Hit

Milo old crop · Sep 2026

Break-even $4.19 · cash bid $3.75 · 92% priced against a 95% pace

Ladder covers 73% of the crop

Rung	Price	Over cost	Tranche	Away from the bid	Sell by	State
1	$4.39	+$0.20	15% 11k bu	Filled	Aug 9, 2026 15 days ago Window Feb-May	Hit
2	$4.61	+$0.42	21% 15k bu	Filled	Oct 9, 2026 in 46 days Window Feb-May	Hit
3	$4.89	+$0.70	21% 15k bu	Filled	Dec 9, 2026 in 4 months Window Feb-May	Hit
4	$5.07	+$0.88	16% 12k bu	Filled	Feb 9, 2027 in 6 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 $4.58 to count as clearing cost.