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kraft-t
Senior Advisor

Sold the corn friday after the close.

Good price and I can use the money. Now you folks can ridicule this folly and that is ok with me. It's 3 cents off the highest bid they have had for old crop corn. Possibly we will have future price gains in the corn market. I hope that is true because I might get the opportunity to sell new crop at better terms.

 

Momentarily the beans are still mine waiting for price improvement or panic which ever comes first.

 

One day you will be able to chortle that Old Don sold his corn for (gasp) only $6.50. What a DA!

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9 Replies
sw363535
Honored Advisor

Re: Sold the corn friday after the close.

A solid move.   I am not sure we can afford to see the day when $6.50 is a poor price.

 

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Nebrfarmr
Veteran Advisor

Re: Sold the corn friday after the close.

A old neighbor, who did pretty good for himself, once told me, you will never lose money, selling for a profit.

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Palouser
Senior Advisor

Dammi1 Don !!!!

I wish you'd quit telling us when you sold! I'd rather pay for your use of a psychologist! You know **bleep** well the market is going to go up now. Promise not to say anything!   Smiley Wink

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kraft-t
Senior Advisor

Re: Dammi1 Don !!!!

Somebody has to look out of JR and those other livestock men! Besides I need to lock in some income because Obama needs my help.

 

I think alot of these guys are not selling because they are afraid government might ask for it's share. I tell you it a heckuva lot better paying taxes than the years i didn't pay taxes. I can't wait until I qualify for that buffet rule!

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Nebrfarmr
Veteran Advisor

Re: Dammi1 Don !!!!

Nah, they cab always sell, and just defer payment into the following year.  I can think of several people who did just that, including one who claimed they 'wanted' to pay more in income tax.

Myself, I am waiting until I get all my contracts filled, before I sell my last couple loads, as I don't want to be short.

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kraft-t
Senior Advisor

Re: Dammi1 Don !!!!

Are You suggesting that a crop must be sold in the year it was produced or the producer is avoiding taxes?

 

Don't you want to pay more taxes? I beleive that more taxes is an good indicator of a profitable business.

 

If your sole objective is tax avoidance, you are greatly limiting your success.

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kraft-t
Senior Advisor

Re: Today proves that i am a dumb A

I should sold even more.

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sw363535
Honored Advisor

Re: Today proves that i am a dumb A

Always wrong ?????????????????    Turn around and face the way your going.  

 

 

 

It was a good move.  Smiley Tongue

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Nebrfarmr
Veteran Advisor

Re: Today proves that i am a dumb A

You said:

 

I think alot of these guys are not selling because they are afraid government might ask for it's share

 

I merely replied, that people can, and do, defer the income into the next year, so that should not be a reason not to sell for a good price, if they don't want to pay income taxes on it this year.
Lots of people do it, even people who claim that they'd gladly pay more taxes.

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