Here are some ideas to reduce risk going into 3/29 reports:
 
Old crop corn: Buy May 3.80 puts for 4 1/2 cents, or July 3.90 puts for 13 cents
New crop: Buy OCD n 4.00 puts for 10 1/2, or OCD q 4.00 puts for 16
 
Old beans:    Buy May 10.40 puts for 16-17 cents
New beans: Buy OSD n 10.20 puts/sell Sx 11.20 calls for 6 cents credit
 
Getting covered before major risk times is something we feel important, history tells us these reports at the end of March can dictate price action for weeks to come. If bearish, we are covered at prices that are profitable. If reports are bullish, we can roll puts up, sell cash at higher prices, or possibly sell calls at a strike price that we would be tickled to sell cash at later.
 
Bottom line, all these positions are manageable, they form a profitable base on which we can add value later depending on all the variables of weather, money flow in or out, or geo political events such as trade wars, and others. We want our net farm income covered with risk reducing positions!