>There is a common theme of wanting to be both hedging and getting the upside
I see that in my professional life x10. When I suggest 'options' (so you get the option of taking the hedge or the market at the strike date) they scoff at the margin. We are back to Brexit again, they want to have their cake and eat it!
I'm sure you are right that there are some farmers, especially the 'agi-businesses' that are hedging. There seem to be many more that are winging it.
I see that in my professional life x10. When I suggest 'options' (so you get the option of taking the hedge or the market at the strike date) they scoff at the margin. We are back to Brexit again, they want to have their cake and eat it!
I'm sure you are right that there are some farmers, especially the 'agi-businesses' that are hedging. There seem to be many more that are winging it.