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Senior Advisor

Marketing Advisors

Received an email today from my marketing advisor advising me to reown on paper the 50% contracted forward sales he begged and pleaded my to forward sell just one week ago. I've only got one thing to say WTF. Before I started using an advisor I always felt uncomfortable with sales I made or didn't make. Now that I use one from time to time I get just as nervous when I see an email from him without even reading it. I've never physically sold a single bushel before I had it in storage and I'm not about to now.
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6 Replies
Veteran Advisor

Re: Marketing Advisors

use it as a bullish indicator, perhaps............for someone in that role to actually de-couple from their automated historical software and think about things???--------------no, probably didn't think------------he got the fax or order from a superior...........anyway you slice it? 

 

maybe some field scouts they use saw some of blurry weed, Hobby & farmerguy89 were mentioning?Smiley Wink

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Veteran Advisor

Re: Marketing Advisors

Shaggy, IMO it sounds like your market advisor is gambling with your money. Some of those guys are just salesmen. He is probably thinking that the next USDA report on the 12th will be bullish... Maybe and maybe not. I forward sold some corn last week for fall delivery at a price of $5.20 and forward sold some beans months ago for $12.80. Those may not be home run prices but at least they are above cost of production prices in most years. In your situation, it sounds like you have bins and being that you farm on the great plains its probably a wise move not to forward sell much or anything. You've made it this long, apparently you are doing something right.

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Veteran Advisor

Re: Marketing Advisors

Blurry weed?  Is that something they're smokin', or what?

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Veteran Advisor

Re: Marketing Advisors

WCMO,

something funny from floor talk.

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Senior Advisor

Re: Marketing Advisors

Few of these traders are hedgers.  Most are trying to make money off market moves, which is speculation.  Also, every time you place a trade you make him money.  It's in his interest to recommend frequent trades.

Theh bottom line is that only you are re sponsible for your trades.  You are better off being uncomfortable alone that being uncomfortable and knowing someone else is proviting from your discomfort.

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Advisor

Re: Marketing Advisors

I would rather trade paper than fwd sell in the Midwest. Way less riskier. In Ontario there is no way I'm doing paper. If basis is good, I sell or lock basis. Cash corn nc is 4.50 here I think? 70-75 under. 5.80 nc last fall was me executing my previous plan.

Bean basis is outstanding here: Bunge must not be able to source enough w competitors on the ports in the way.

I had a trial version of dtn. They keep sending me strategy change alerts to entice me. I guess they have changed tunes too.

If you look at corn/bean charts now, we are very close to breaking resistance and moving higher
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