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Advisor

what would you do????

Ok, I'll do this again. I have just finished hauling in the last of my unpriced old crop corn. I inquired about possibly filling some of my new crop contracts IF i could gain some basis money. I had one small contract for new crop delivery at 5.70.(made last sept) I was told that I could gain enough basis to raise it to 6.40.  right now I can sell new crop for 7. The present old crop price (yesterday) at my location was 7.42. My dilemna was should I take the contract with the higher basis or sell now for 7.42. If i wait the best i can do for oct. is the 5.70  i originally agreed on. The merchandiser thinks i'm nuts, but I filled the 6.40/5.70 contract and sold a corresponding amount for 7 new crop. what do you think??

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5 Replies
Senior Contributor

Re: what would you do????

I don't see crazy.  It looks to me that you took 98 cents less than possible for old corn and picked up 1.30 on new corn.

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Senior Advisor

Re: what would you do????

John you're gonna have to use larger print if you expect us old coots to read it. I even got my magnify glass out and it still looked like a blank page.

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Senior Advisor

Re: what would you do????

You really must have good vision!

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Senior Contributor

Re: what would you do????

Yeah, I can see things that just aren't thereSmiley Very Happy  For whatever reason the post was deleted after I replied.

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Advisor

Re: what would you do????

wwwweeelllllll, that was inconseqential in the grand scheme of life. and drought markets.

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