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South Central Iowa | That's quite a parable Sat; not Jesus level or anything, but nice nonetheless.
Maybe the bull was just waiting for the water to settle out, so that he would have the cleanest water possible. But when the new water was poured in, it created a stirring action and he needed to wait for it to settle out before he would drink.
Since Stevr brought it up, I (we) are 100% sold on physical old crop corn and soybeans. The last bit of soybeans, which was overage from our forward contracts, was sold on the RFS fiasco day for $10.41. It had only been at the elevator for 6 days. I have reownership on 60% of soybeans and 100% of corn.
Target orders for when the water settles out, ZSX17 10% at each for harvest delivery and I have reasons for each: $10.60, $11.00, $11.35, $11.50, and $11.80, try to get dime puts at $10.20-10.60 for the other 50% when the time allows. I have said before, I am looking at $9.10-$11.85 range on the continuous with good production. Corn is simpler, buy at the money Dec Puts at $4.20. Hopefully I throw away the quarter, but if not, I make decent money with those. Revenue Protection makes me profitable soybeans, near on corn. So aim for some pretty decent profits with realistic expectations!
If the situation deteriorates more, I will adjust accordingly!
Thanks for advice Sat!
You didn't answer my oil question though, what is your target low?
Edited by Conan the Farmer 3/12/2017 19:06
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Dad's Old Bull
