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Veteran Advisor

I stayed to long at the fair

Well I have to admit, I made a mistake(s).
For once, after 4 to 5 years, we finally got
Some rain...last few years beans below
You knees...this year taller than belly button.
Milo looks nice..last year Milo and weeds
Never come up. Wheat ground still wet, last
Year nothing but clods..suff didn't come
Up untill spring.
Marketing was a laughable subject.
We didn't trust we would have a crop
So here we are.
Crops overall may do good...even good crop
Will have a hard time to find a nice home at
A respectable price.
China not happy, and we're shutting down
Moonshine stills in Iowa.
To add to the perfect storm, harvest soon
And basis will get wider.
Things just might start to get ugly in the
Next month.
The end users will be like buzzard's circling a sick
Cow...they know they just have to wait.
The only good looking thing might be wheat,
But ""some kind''" of action needs to be
Taken to lock in levels offered now, since
Wheat will most likely tank along with all.

Boy wouldn't a deep fried snicker taste good now ?

 

((Any other favorite fair foods ?  We need

To talk about happier things, rather than ""markets""))

 

 

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2 Replies
Veteran Contributor

Re: I stayed to long at the fair

I would say this is exactly when we need to talk about markets.

If you are worried about basis widening or futures prices dropping then do something. Milo is far enough along to have a pretty high degree of confidence that you will make some bushels so contract some, put on a basis contract, buy a put.

Dont wait until basis is anothet $0.40 wider and Dec corn futures are $3.00
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Honored Advisor

Re: I stayed to long at the fair

Too late. Bin it. And sell equipment.
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