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| You cannot retify your previous mistakes by buying them back. The contract holders are going demand the increase in value plus their expected margins on those contracts. Your 10,000 bushels of corn will cost you nearly $4 per bushel to get back. Your beans nearly $10 if not more. If you expect further gains in the market buy futures or calls, but I question even the wisdom of that.
Look at your situation in this manner. You sold corn at $2.60 and now you have the opportunity to contract more at a buck higher, $3.60. Would you rather have situation with $2.60 sold and a lower price expected for the rest. I recommend you fill the contract in due time and look for the next sales opportunity. Most of have sold corn for below $2.60 in the past and we don't wish we had held it all until now. The sales are history. They looked attractive to you when you did them. Get the deal behind you and move on. You would be better off contracting some 08 corn and soybeans. Lock in some of those profits. Then hope the corn market goes to $6 so you can sell the overrun at an even better price.
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Should a guy buy back some bad contracts?
