|
Ontario's middle east | We love buying $4 corn and selling it for $3 , and that is why working with a well managed local country elevator is good for your town. The difference comes from Chicago. Futures are just a tool in our box that we cant live without. If the CME was gone tomorrow, we would likely pull all bids and likely cease to exist.
I have no unpriced bushels in storage, just new crop. I have suggested guys here get to 20-25% presold before the Jan report..... reasoning that averaging up from those levels would be a success story. It will be bleak if those are good sales. We have a little different situation on this side of the lakes. We are bidding $CA 4.60 for new crop corn this morning..... not a bad flat price IMO. Now if we were to flip our FX back to parity, we would be bidding $3.60.... 2 totally different scenarios. Now I'm not suggesting we are flipping back to parity by any stretch of the imagination nor is it relevant to you, but sheds some light on my current thought process.
It would seem the more we examine things, the more we appear to be on the same page. The goal is to sell for a profit, so why not sooner then later? There is often something to be learned challenging other peoples ideas....Good luck with the growing season, however you sell it. Regards, Pete | |
|
intent of cme
