Simply following our plan. We sell when the market triggers the event. Basic but normally more effective than an emotional decision made during the fog and fatigue of planting. It is after 4/10 so the triggers are all active going forward.
At this point, not selling is betting on bad weather. Farmers usually, not always, but usually lose that bet, especially when the funds are long billions of bushels. If nothing else, sell some OTM calls and make the thing come to you.
The real issue in your post it would seem to me is "farmers can't cashflow $4.60 corn". They will probably get a chance to cashflow it out of equity at some point. IF costs are really that high, I certainly hope they are agressive risk managers.
Well, off to the planter to see if if all works out of the gate (that never happens but we can hope). Lots of folks rolling in C-IN yeterday and today. Not sure it is a good decision, but it is 4/23.
