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BA Deere
Honored Advisor

So, what should we do today?

Corn in the elevator and report tomorrow, is it gonna be nickel up or 20 cents down?   πŸ™‚ Uff-dah. 

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14 Replies
elcheapo
Veteran Advisor

Re: So, what should we do today?

Best protection a short dated put....owning the inventory has you covered if it goes up.
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sfrms
Contributor

Re: So, what should we do today?

Go long 2 contracts Depends futures.

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Hobbyfarmer
Honored Advisor

Re: So, what should we do today?

Really frosty here @ 20Β°F

 

No clue on the "we" thing, I'm going back to combining corn that is making right at 100bu/ac more than I had any idea or hope of it making even two weeks ago.

 

I'm as broke.as I wanta be, not messing with any "insurance" handled by a broker.

 

Edit: just head over to Diamond Jo's, place your bet on either red or black, or even or odd your choice. Make it a substantial bet and they'll probably comp you supper. 

 

Up side, U may walk out and not need to care if corn goes up or down 10Β’

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rayjenkins
Veteran Advisor

Re: So, what should we do today?

and there we have it folks......I was perplexed when NASS raised the corn yield in the SC district from 138 in September to 168 in October's report.......

 

If Hobby can be off 100 bpa, certainly the govt can be forgiven for 30!!

 

glad to hear there is something out there in those  fields.....your comment about soil quality is noted.....and confirmed by a twitter comment on the subject by a major seed company agronomist who said (in regard to yields in SC Iowa)----the previous two years, CSR made little difference in corn yield......this year it made a huge difference in whether you had 200 or far less than that

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timetippingpt
Honored Advisor

Re: So, what should we do today?

Just keep it and forget about it till the Epiphany in January, jmo

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timetippingpt
Honored Advisor

Re: So, what should we do today?

Or better yet, sell 10% and take the cash and margin buy MW. again, jmo.

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BA Deere
Honored Advisor

Re: So, what should we do today?

Revenue assurance is runway behind us, if USDA says "175" and corn drops a buck, all we can do is grin and bare it, this could happen by the weekend...well maybe 20 or 30 cents, but this far below the cost of production, who is the last one`s standing in line for us to pay them, seedman, Farm Plan, Visa, the banker?

 

Of course cost of production is different with 220bu corn rather than the expected 180...but that translates into a ugly price.   And next year? might as well go fishin`.   Might have to tap into the trust fund next year   πŸ™‚

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JimMeade
Veteran Advisor

Re: So, what should we do today?

grin and bare it or grin and bear it?  There is a difference.  πŸ™‚

If WASDE finds all the corn you guys are finding, tomorrow may not look so good.  We'll have to see.  Maybe that is already in the market.

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giolucas
Veteran Advisor

Re: So, what should we do today?

Buy before the report tomorrow and hold no matter what. In fact do not look at the computer.
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