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SW WI | Ray, a piece of your reply that grabbed me was being 25% sold on new crop. I would be interested in your strategy for the remaining 75% of expected 2010 crop. My 09 crop is taken care of. April and June delivery between $4.00 and $4.50. Contracted last June, knew I had to take some of those cookies. Extra bushels ( bushels I didn't have my own bin space for) moved last fall between E-plant and local dairy. Prices were better than what I thought would be in the fall. Also, I didn't want to dry it, pay storage, and speculate with it, so I took the cash.
Now on to 2010, I have roughly 25% sold, E-plant $3.98 ave price, Nov delivery. Was looking for $4.50 June price to contract some more, can store till then. I definitely bought into (the funds will pour money into commodities) after the first of the year. The fall run in price didn't make sense to me but I wasn't going to stand in front of this wave that some thought would happen. I think the June price did get to $4.38 cash. Yea, .12 shouldn't have been stubborn, but at the time I thought I was being patient.
Long story of what are your thoughts on 2010 pricing opportunities. Thought I needed to give some background first. I do believe in a weather scare, question always is from what starting point. Thanks | |
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corn- panic or hold
