Hedge Heads

This wasn't just a bad report...it was the kind of January surprise that forces you to rethink everything. Massive acreage changes, record yields, weak demand, and almost no volatility response left corn, beans, and wheat reeling. Jon Prischmann and Ryan Tungseth break down why this report is historically troubling, why it's different from past bearish shocks, and what it means for old crop, new c...

It's the first Hedge Heads episode of 2026, and the markets feel asleep. That's exactly why this setup matters. Jon and Ryan break down why the January 12 report could be the first real catalyst in a while, how to think about risk when corn has been stuck in a tight range, and what the spreads and basis are quietly signaling about nearby demand. They also get practical on strategy: the overlooked...

Jon Prischmann and Ryan Tungseth are joined by Theta Farmer for a wide-ranging discussion on options, volatility, and what disciplined risk management looks like in today's grain markets. Rather than chasing trades, the conversation focuses on patience, timing, and understanding when the market is offering opportunity—and when it isn't. Theta shares how he thinks about selling time, managing posit...

Most option trades fail long before the market ever moves. In this Christmas episode of Hedge Heads, Jon Prischmann and Ryan Tungseth break down the real decision-making process behind option selection—why timeframes matter, when short-term options make sense, and why the cheapest premium is often the most expensive mistake. They walk through how market structure, seasonality, and volatility shoul...

End-of-year grain decisions are rarely about opinions—they're about math. In this episode of Hedge Heads, Jon Prischmann and Ryan Tungseth walk through the real numbers producers are facing right now: storing grain versus selling, when it makes sense to re-own with calls, and how to think about upside without exposing yourself to unlimited risk. They break down why boring markets can be the best t...

A year ago, Jon was accused of turning bullish on corn—and lost a beer bet because of it. This year feels eerily similar, but the setup is different in one key way: the spreads and demand signals are telling a story most producers aren't paying attention to. In this episode, Jon and Ryan break down why corn's pipeline looks tighter than expected, what last year's spread behavior can teach us about...

Most market chatter is noise. Spreads aren't. This week, Jon Prischmann breaks down the one indicator he trusts more than any headline, analyst note, or social media hot take: the corn spreads that quietly revealed last year's top weeks before the break. He walks through how March–May corn acted ahead of the 2023 peak, why commercials can't hide their real needs, and how spreads give producers the...

Corn is offering profits, but the real question is whether it's worth locking in this early. Jon and Ryan break down why giving up a few cents to buy time may beat jumping into a hedge, how short-dated and September calls can change the math, and what political headlines are doing to soybeans. They also touch on cattle's rough patch, basis-roll decisions, and why staying flexible matters in fast-m...

Corn is finally moving, but nobody agrees on what comes next. This week, Jon Prischmann and Ryan Tungseth break down why incremental sales make sense in a rising market, why USDA numbers matter even when nobody likes them, and how to keep the upside open without overspending on premium. They dig into the surge of money flowing into commodities, the uncertainty around South American and U.S. weathe...

This week, Jon and Ryan get practical with real corn hedge setups — the kind they're actually watching right now. They break down when to buy calls or puts, how to build a floor without capping your ceiling, and why smart planning beats chasing highs. It's a straight-talk episode focused on timing, strategy, and what limited-risk hedging really looks like in today's corn market. They wrap up with...

The mics are on, the lines are in, and the markets are moving. Jon and Ryan take Hedge Heads to the lake to talk soybeans, corn, and cattle between casts. A relaxed, off-the-dock episode where market insight meets Minnesota fishing stories.

The quiet stretch is over—commodity markets just came roaring back to life. Jon and Ryan dive into the chaos and opportunity behind 81 million acres of soybeans, a weekend trade deal that shocked the market, and why volatility is finally back. From beans with upside to cattle in freefall, this is the episode where everything moves at once—and every decision matters. "Hedge Heads" is your go-to pod...

It's that time of year — tough choices, tight margins, and a lot of second-guessing. Jon and Ryan dig into what's working (and what's not) for 2025-26 marketing plans. From soybeans and corn to wheat, crude oil, and even gold, they cover the signals that matter and the traps to avoid. Jon explains why storing beans might make more sense than corn this year, how to approach re-ownership strategies,...

Volatility has fallen to its lowest levels in years, and that's changing how producers should think about risk. Jon Prischmann and Ryan Tungseth break down what cheap options really mean, how to use volatility to your advantage, and when "keeping your powder dry" might be the best trade you make all fall. They cover everything from storage decisions and range-bound strategies to what 2026 corn hed...

The government's shut down, exports are dark, and someone just "found" 200 million bushels of corn. In this week's Hedge Heads, Jon Prischmann and Ryan Tungseth dig into a market that refuses to move—where corn's too expensive, wheat's too cheap, and soybeans can't seem to catch a break. They talk through why full carry and weak basis mean defense is the only smart play right now, why cheap option...

Grain markets aren't offering easy answers, and the old "sell it and forget it" approach is running out of road. Jon Prischmann and Ryan Tungseth dig into why simple cash sales aren't cutting it, why storage is creating new headaches, and what a flexible, creative marketing plan needs to look like this fall. From wide soybean carries to wheat's false bottoms, and even the mixed signals in cattle,...

Harvest is coming fast, and so are tough marketing calls. Should you put grain in the bin, sell it across the scale, or lock in a hedge? Jon Prischmann and Ryan Tungseth unpack strategies that balance opportunity and risk, with a close look at soybeans, corn, and the signals flashing across the broader commodity markets. "Hedge Heads" is your go-to podcast for cutting through the noise of the futu...

Markets may feel quiet, but decisions made now can shape the year ahead. Jon Prischmann and Ryan Tungseth dig into why your banker should be part of your hedging plan, how fleeting corn rallies could create quick marketing opportunities, and why China's absence from the soybean market is raising alarms. They also take a hard look at cattle, where basis risk and expensive downside protection make h...

Corn showed surprising firmness to kick off September, staying green while beans weakened and wheat struggled. Jon Prischmann and Ryan Tungseth unpack why these random bursts of strength appear, how Brazil's ethanol demand shifts the export picture, and why this season is all about "store and pay attention." They also look at soybeans, where China's absence looms large, and cattle, where futures h...

This year's markets won't reward sitting still. With low prices, heavy carry, and weak basis, survival depends on keeping new strategies in play. In this week's Hedge Heads, Jon Prischman and Ryan Tungseth dig into why fresh ideas are the most valuable tool you can have. They cover how to recognize the kind of year we're in, why basis should be your guide for marketing decisions, and the importanc...

Grain bins aren't magic machines that turn patience into profit. In today's bear market, storing grain can drain margins faster than it builds them. Jon Prischman and Ryan Tungseth unpack why old storage habits aren't working, the hidden costs farmers overlook, and how to stay nimble with marketing decisions. They also cover cattle's relentless rally, the warning signs showing up in futures, and w...

This is a special public release of our Hedge Heads Insider content—normally reserved for subscribers. We're sharing it this week so you can see the kind of timely market analysis our insiders receive first. This week's public Insider Special covers a USDA report that will be talked about for years—a major acreage shift from soybeans to corn that's reshaping market dynamics. We break down why the...

A middle-of-the-night Trump tweet sends soybeans higher—was it just noise, or is there more behind it? Jon Prischman and Ryan Tungseth break down why they think there could be real substance, and how to position with calls, call spreads, or futures. They also dig into low-volatility corn and why buying calls now could make marketing decisions easier later, plus a look ahead to December 2026 pricin...

Markets feel stuck, emotions are running hot, and everyone online is shouting about yields, inflation, and why cattle "can't go down." In this episode, Jon Prischman and Ryan Tungseth step back from the noise to talk strategy. From smarter storage decisions to courage calls and interest rate trends, they explore why volatility is the new normal—and how to stop reacting and start planning. They als...

Markets don't get more lopsided than this. While grain bulls are stuck in a summer-long slide with no catalyst in sight, the cattle market is charging to new highs—and even the barns can't believe it. Jon and Ryan break down why corn keeps grinding lower despite pollination problems and why the funds may have had the right trade all along. They dive deep into the cash/futures gap in live cattle, t...