|
South Central Iowa | I hope not many and any that did, I hope it was at least profitable for them. Sometimes when someone who should be knowledgeable peddles the doom talk like that, it can scare a guy into locking in a loss for fear of bigger losses to come. This is way too early for those kind of thoughts. Don't lock in a loss or barely break-even at this stage for next year. That's why I stuck it on here because if anyone else was listening, I hope they came and heard some different opinions. The price may be ugly next fall, or it might not, we don't know yet, but we do know that in spite of the bearish fundamentals, the market is much higher than last year and shows great resilience. If November gets back up to $10.35+ I will make some sales because that is attractive to me, not because I am terrified of $6 cash beans.
The real asinine thing that Brock said that I didn't mention was that $6 cash in Iowa was his "optimistic" price level. He made sure to reiterate that again in the conversation that this was his optimistic outlook. He backed up his claims with his call from 2014 that beans would crash. Well no (blank) Sherlock! They fell on the continuous from $15.37 in May to $9.04 in October. They started on top of the mountain Ricky! We are still towards the bottom of the cliff. Falling from $10.00 to $6.00 is a different beast than $15 to $9. I am not impressed he called that. November 14 Beans peaked at $12.79 in May of 2014 for those that are curious. That is a year that a lot guys didn't forward contract because of that giant discrepancy. | |
|
Upside Key Reversal in Soybeans!
