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Pittsburg, Kansas | Daughter (who does the merchandising for our operation) had a bid for Springdale, Ark for 4.24 a couple days ago. Also were offering $4.25 for Jan-Mar delivery 2017. Thought to myself, "self, this is odd". They usually do not bid a year out.
We have stuff sold up through April delivery, so had told her to just sit out the sales for a while (we usually sell weekly, or at least every other week). Have not sold anything for a few weeks.
Maybe someone getting concerned about coverage? Don't know. Just seemed off, if we wanted to sell on contract a year out (without using futures), we would normally have a hard time doing it. Now they are wanting to contract corn a year ahead. Odd.
Several years ago, used to use futures to price grain ahead a fair amount. Kind of swore off of using them and have just been binning it and metering it out in sales. Or as our resident buyers would say, I turned into a "flat pricer". Probably not the right way to do it, but I feel comfortable with grain in the bin. I have no comfort whatsoever that the CME has my best interests at heart. It's my money and my grain. If I don't want to "beat the market by using futures", I figure it is my prerogative. I'll just take a little less marketing profit and sleep better at night.
John
Edited by John Burns 1/29/2016 11:09
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$ smoking - grains and beans up? NT
