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Central Missouri | 1x2 arent accumulators but have a min max and futures price from outset. They will double up and have a floor. Can flex delivery them and roll o earn carry. I use them on small percentage. They work very well in a falling market like we have had the lst year.
Have 25% of our expected wheat for 24 done with them against wn24 at over 9 futures with flex delivery. Will roll futures to mar 25 eventually carry is around .50/bu right now. Have gotten 50-70 over delivered stl the last 8 years in a row. Freight is 50 cents so 9 wn24 futures plus 50 carry plus 50 basis minus 50 freight equals 9.50 fob.
There are times to do these. For me its on first sales in a market that i expect to decline. Jmo | |
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Accumulators - A Rant
