|
Buxton ND | With his facts, I will add some, highs in corn based of ZCZ of each year
2013 - 6.50 yes it was a full 2 bucks OFF the 2012 high.
2014 - 6.00
2015 - 6.00
2004 I remember very very well, its WAS CHINA BOTH CORN AND BEANS. We had a local marketing club, I have not said anything as my name would come out with any locals. Well my name is OUT, I'm Marty the Norwegian in the stripped bibs (there my DAD'S BTW) 2004 buried this marketing club because we ALL had a anti up $500.00 in extra margin on a buy a put/sell 2 calls hedging beans. YES "the most" had a cow because of a dam $500 margin money check, it took a few short years, we had a small hand full left that came to meetings after that,,, we ended the club. Started with 30 farmers got down to 3-4-5 of us at the meetings,,, again we ending the club and it was ALL FOR LEARNING MARKETING CLUB.
One comment from a older gentlemen in the club, old school guy "if you guys are going to play the futures board,,, I don't want anything to do with it and I'm OUT OF HERE" He had no clue what "a hedge" WAS or IS
2009 will stand out to many Ag Webers, ZCZ09 hit 4.50 ON THE NOSE. Come that fall old 48 said "I told you fellers to sale @4.50, I told you" and YES HE DID. Me I just had that same old same old 4.472. 48 also told me (sometimes I do listen) if you wanna be a good corn trader you gotta learn cattle and visa/versa so starting looking at cattle from times to time. Its all about LEARNING HERE, and 48 is my elder BY ALOT :o))))) I'm kinda think he's sitting over in the naughty/naughty boys corner with MT ! ! ! ! !
It may surprise you,,, I was 100% + sold in 2011 for 2012 crop, sold does not mean cash sold, it was hedged. With the gains being taxed on 2011's 1099
There's many that are so afraid of a margin call on a futures position and will never do a hedge because of this. No NOT talking down to ANYONE just stated a fact that I've learned and applies to "the most" producers. | |
|
Just a quick post to correct some misinformation on RTK post below
