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Honored Advisor

not on corn

Local "FARMERS COOP" ... you know that thing started by farmers for the benefit of the local farmers???

 

Went from -20 to -50 in the last two days.  Now if only the RA insurance would follow cash prices. 

 

This looks to be the fastest way to consolidation in the grain producing arena I've ever seen.  A rush from farmers to "growers" is underway.

 

This will break the will of the little guy. 

 

Bean harvest still a few days away and the corn is still too wet at these prices.  If only 15% more or less is forward.priced this will be a haircut many will not survive.

 

A high % May be in RA insurance territory, why not let it stand? Why pay shrink AND drying just to save the insurance co money? Most farm equipment nowadays have good heaters. 

 

  CBOT CORN  AFTON
Futures PriceFutures ChangeFutures MonthDeliveryCash Pricebasis 
323'2s
0'4
Dec 14 Oct 2014 2.73 -0.50 Chart
371'4s
1'4
Dec 15 Oct 2015 3.25 -0.47
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10 Replies
Veteran Contributor

Re: not on corn

I'm worried that if we let it stand the insurance companies will want to appraise it in early December and somehow we would get screwed on the deal??
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Advisor

Re: not on corn

Seems as though Dec 10 is the deadline for appraise and after that youre on your own . I think
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Veteran Advisor

Re: not on corn

Hey, Hobby, the local FarmersCoop has to make money to stay in business too.  How can it benefit local farmers if it goes broke?

 

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Contributor

Re: not on corn

your handle tells us you you dont know much about marketing, if your bids from processers go to minus 50, your elevator is not going to bid -20, maybe you should buy a elevator, you what be broke in months

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Veteran Advisor

Re: not on corn

Well, if these maps are correct, looks like November and December will work fine for harvest.

 

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http://www.cpc.noaa.gov/products/predictions//multi_season/13_seasonal_outlooks/color/churchill.php

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Veteran Advisor

Re: not on corn

Yep.....good ole coop....after buying 4
Elevators in the last year...already have
2 train loading facilities (100 cars at a time)
Last week we bought a large elevator, outside
Our service area.,..

Last year we only had 45% equity (owed a lot
Of money to bank)...now we are in the 30's.

The board and the general manager
Just don't get it.

Their mind set is totally different

Latest Muse was. To sell you storage space
At elevator ..$2.00 a bu, we still charge you
2 cents a month for maintenance, and
After twenty years, the coop gets it.

Board thought it was good deal and they
Were signing up......need I say more?
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Honored Advisor

Re: not on corn

They been doing a version of that for several years at the above coop.   Called "condo storage"  growers been snapping it up, gives them "guaranteed storage"  selling them in 5000bu increments. I call it guaranteed sex, as they a r e being screwed.

Veteran Contributor

Re: not on corn

Mine here in Nebraska dose condo storage to.  Its a joke,  once you deliver the corn to your storage at there elevator you suspect to there basis because they know they have your grain in there elevator.  At my bins i don't have to wait in line and I can dump when ever I please.  CONDO STORAGE IS GIANT JOKE THAT IS STILL BEING PUSHED BY CEO'S OF COOPS!!!!!!

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Honored Advisor

Re: not on corn

Jec22,

 

I keep coming back to this thread just to see the SW with a green color for the next 4 months -------- Thank you 

 

 

Let's call it theropy.  Smiley Happy

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