Re: Not a good day to battle the bulls
It probably looks like a lie, but I am seldom either a bull or bear in my mind........ I spend most of my reading looking for the market influences and judging strength and importance of each.
We have an excellent example today. I am finally seeing an opportunity to move some wheat I have been sitting on since harvest. Usually there is an opportunity after harvest to more than pay for some storage in a fairly short time.... as opposed to selling at harvest. This time the opportunity was pretty slow in coming------\
Point is the bull market in wheat now is presenting an opportunity.
At the same time the bear market in oil is giving us an opportunity to lock in some lower prices for fuel, and eventually fuel for water pumping, and eventually some fertilizer ----- hopefully.
We had some beans priced on futures contracts last spring----not at a good price but in a profitable area-------- and the bear market took it far enough to make a couple dollars on the contracts bought back at harvest. Now in storage they are going to gain a little more by the time we get them sold and delivered thanks to the after market correction.(doubt that that can be called bullish)
Cash flows are met so the long waits for opportunity are not with all the bushels I would like. And our storage is limited on long waits.
The Bull and Bear issues on the board get kind of silly---It is really just chearleading the market and comparing "pompoms". I think we should be "opportunists" instead.
Looking for the opportunities to enhance the profit margin. And if we raise wheat we better have our ears up this week. We have a chance to price a little better ---- the last crop or a little of the next. And to buy at least one input at a lower proce.