northern edge of north central Missouri | Dan Loehr - 2/16/2024 07:45
Comes out the same as doing it on the board--"what we sign into" --Get 80% up front elevator keeps 20% to maintain your position
I loose about 15% of the 20% elevator has they are going to expect me to pay them margin to maintain my position
Most basis contracts guarantee you get to keep the up front money you got---
the elevator will put in an order sell you out at 20% loss but at that time you are out of the game
It's just as painful as doing it your self ---you just don't see it every day
Corn really sucks at this time too much carry about 12 cents +1 cent to roll -- never seems to work with big carry
Don't know what I'd do if we had corn on Basis contract
We have some soybeans ----got a good basis :-) --I just looked at doing some options didn't like them
SHOULD have sold them a long time back I am a brilliant hind site 20-20 marketer (Looking backward)
Pain continues
Dan
Edit to add I know of no elevator that will go underwater with their money on a basis contract what ever money you left at the elevator runs out they sell you out
----Grain buyers aren't a golden goose I don't think they trick anybody ---You play the game better know the rules
100%.
I suppose anything is possible but can’t imagine any elevator eating a producers margin calls. |