cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Senior Contributor

Well Time :Tipping

How are those corn calls doing you posted on here about 3 weeks ago? Seems as though the market has other ideas.
0 Kudos
5 Replies
Esteemed Advisor

Re: Well Time :Tipping

Keep getting cheaper!  :-)    

 

Pretty good case could be made that much like hogs being way under-valued in Jan/Feb, corn is now.

 

For us idiots with hogs left, selling $1 pork and buying 3.50 corn is a pretty good deal for a change :-)

 

As everyone knows, our big position is in Sept 360 and 370 calls, and I am quite comfortable

holding on to those. Like I said, let's wait and see how they worked come late August. Most I can

loose is 35 cents or so.

 

To be fair, might remember that we have no old beans, and 25% of the new beans sold. Sold, in general,

our farm's risk is still in growing the crop. Nothing planted on 4/23, very cold and wet, it will be fun

to see what happens. We have planted corn in April every year except one since 1980, not looking

good right now, but maybe, that is the beauty of it, no one knows the outcome.

 

I think I might go buy some futures tonight since you brought it up :-)

 

0 Kudos
Esteemed Advisor

Re: Well Time :Tipping

Basis keeps getting tighter, now .08 over the May, or even a dime if you do 50K, so we'll keep emptying the bins, can't do anything else anyway. At some point, a tight basis does matter. I'm told the farmer's bins are full....but in our township, most are empty....hmmmm....maybe we are just a dumb township :-)

0 Kudos
Senior Contributor

Re: Well Time :Tipping

Funny how we are exactly one tick away in September corn from the low made in last years contract. The traders are 2.5 months late! Government shutdown equals no gas from usda to run it to the preharvest low for the year but better late than never! Heard this time corn was following beans on negative tariff news, but what news exactly? They never say! These market news outlets are so full of sh*t! Makes me laugh! Why don't they just say that traders are following trend and market makers have to get their fill! They can't, they have to find a reason the market did what it did when in fact there is no reason! The traders and market makers do what they do. Market goes down and traders buy at support market goes up traders sell at resistance. Market makers ultimately decide if they can't sway the market in their favor they will suppress reversal as long as possible to change their positions. probably another double bottom this year at or around 3.68 with a rally to 4.07 unless some fundamentals change to cause a break of resistance and the news will give some reason it happened after the fact. "President of china farted while departing trade talks, markets sees as a good sign of things to come, corn jumps to a preharvest high of 4.07 before being quelled by technical selling!" Sound about right?
0 Kudos
Esteemed Advisor

Re: Well Time :Tipping

IH, thanks for the push to buy some futures from the specs, looks pretty good tonight, but we all know what can happen on a Sunday night. About TIME for some gaps in the grains on Sunday night, a bit early, but due to the imbalances in market partipants positions, the gap season may come early....

0 Kudos
Senior Contributor

Re: Well Time :Tipping

No problem Time , I bought some myself yesterday afternoon.
0 Kudos