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| Here's what happened to me.............
When I finished harvesting corn, it was early-mid September. Even with the late planting season in the north, I was paying attention to forecasts and reports of very good yields and a large crop. Futures kept grinding along at about $3.20 or so, making my unpriced crop cash price about $2.60. I wasn't happy with this but at the time was afraid, with the information at hand, that this thing could end up in LDP price territory. So I sold. Immediately started watching the $1.25 rally!
THEN, I finished milo harvest in December. With my brilliant corn marketing move still in recent memory, I held my milo. I thought if the crop is really that large, something else is feeding the news to keep corn prices that high. Going into the Jan 12 report, I watched prices start to consolidate. I determined the size of the crop was already factored in, and that the report would merely reaffirm what had already been forecast, or make a slight downward adjustment to recognize the crop still in the field (lost yield).
SO, here I am today - sold my corn before the rally and probably my milo after the rally. Thought you'd enjoy this scenario!
On the bright side, I hit the soybean market dead on, catching the high (so far....................)
Thanks!
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A trading lesson for anyone interested. (Learning tool)
