10-25-2012 02:09 PM
I have heard it said that markets never go up until most of the production is out of the hands of the producer. For those of you holding those 2012 crops, please hurry up and sell them. I want to have some higher prices on what I am holding! Thanks in advance!
With all the DP programs,etc, the endusers are doing their part to get the crop out of the producers hands....why are we all so stubborn on what went into the bins?
This is part of why "short crops have long tails".You have too many guys like me that hold on hoping for higher prices, but a few give up and sell each month to keep the market fed. Maybe $7.50 was a good price and in a month or two we will be hoping for $7.25, all the while still remembering the $8 we let slip away.
10-25-2012 04:32 PM
In my case, the $8 didn't slip away, I was too scared to forward sell any more than I did, until I had some yield confirmation. However, now that I have it in the bin, and the bills covered (with my contracts) until next planting, I think I'll have a 'wait and see' for a lot of what's left. Too many people trying to get my meager crops delivered to their terminal tells me, they are looking forward, and want control of that corn.
10-25-2012 06:19 PM
Most guys around here always save some back calling them their gambling bushels. Because of the profits from the past five or six years, the gambling bushels have gotten larger and larger. One might have kept around 10000 bushels back then. Today, they might keep around 50000 or more. A lot of times we wonder why elevators aren't moving out grain only to have the elevator manager tell us it's still farmer owned.
10-26-2012 05:09 AM