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NE North Dakota | Education time for me please.
1 - contract is 5,000 bu of corn. Currently funds are around 440k short or 2.2 million bushels of corn is this correct?
I sell 50,000 bushels of corn to the elevator for $4.00 cash today. (4.40-.40 basis) I’m wanting 4.50 (4.90-.40 basis) cash So I wait because I believe corn is headed lower yet and plan to buy at $4.00 futures. I buy 10 contracts at $4.00 that costs me $40 or $200,000??
Market rallies .50 cents. Now I choose to get out. I made $100,000 or did I make $5
Edited by eastndfarmer 2/9/2024 22:30
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Funds and buying back corn
