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| Those were the grain reserve years. I stored grain in '78 & '79 under CCC loan. Cash prices seemed to hover either side of $2/bu. Cash finally rose to $3+ in 1980 (dry year) and I was able to pay off the $2.35/bu CCC loan plus interest. Rinse and repeat for '81 &'82, sold in 1983. 1984 was the PIK year but reserves grew to 4.3 (?) billion bu by 1986 & '87, prices plunged until the drought of 1988, and a new president. I forfeited my reserve corn in '86 because prices never got high enough to pay off principle and interest. | |
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- what happened in 85,86,87? - dieselade : 7/9/2018 06:04
- RE: what happened in 85,86,87? - cynic : 7/9/2018 08:06
- RE: what happened in 85,86,87? - wsnhmr : 7/9/2018 08:15
- RE: what happened in 85,86,87? - CMN : 7/9/2018 08:20
- RE: what happened in 85,86,87? - rich79 : 7/9/2018 08:32
- RE: what happened in 85,86,87? - John Smith : 7/9/2018 21:02
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what happened in 85,86,87?
