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Boone Co. Iowa | Lots of guys with an hour or two of chores done probably, but this is an early post for me...
We farm NW of Des Moines 50 miles. Started planting Thursday afternoon, got 370 acres of 1150 schedule to plant (corn) in the ground. Nice and windy here. I live in town and rarely hear wind howling, but it is blowing this a.m. Sorry to put a couple things in a single post,but refer to title, and add in I should be out the door already, and accept my apologies.
Read Ray post something about I think it was 6.85 on Dec11 chart. I had advisor mention that price to me about 2 weeks ago, one reason was a head and shoulders indicator and 2nd reason I don't remember, but it has banged up against it twice. I was thinking about selling 30% of my production (already sold 30% with a 6.02 average on dec contract) on 3 contract orders of 10% each within a nickel or dime of that 6.85 price....going to watch markets Sunday p.m. and see what they look like. I locked in my inputs when corn was 3.85 to 4.25 cash - these prices seem pretty generous, especially now that we've got a little in the ground. Guys 30 miles west of us have a day's head start, I'd say. More rolling hills that dry a little quicker. Driving home last night at 9 p.m., passed a BTO with two field cultivators flying, lights bouncing in the dark. I don't know if I laughed because I envy them, or just glad I was heading home, but I'll give them an A for effort and wish them good luck. No two farmers alike, that is for sure.
Final thought was directed towards Tara, who called me out (now remember my sense of humor, title of post, etc.) about dec to july spread earlier.
http://talk.newagtalk.com/forums/thread-view.asp?tid=230675&mid=174...
I said it was possible to get 33 cents rolling a dec to july corn contract, and i hoped for 37 to 38 cents. (Whoops, not exactly what I said. Let's said I was tired last night...) :)
Anyway, I always thought best time to roll dec to a forward month was during late October through about Thanksgiving, when the market had lots of corn and markets were pushing folks (by setting prices) to store corn. I was curious Tara if you got those 40 cent standing orders filled during late Oct. - November time frame? Seems like a pretty standard/seasonal play, and learned this from the two smartest marketers I know (dad and elevator manager who taught him). I'd add that I was probably throwing out optimistic numbers out there during my earlier post, but I AM pretty certain about the time frame, and late Oct-Nov is typically a good time to roll those dec contracts (looking to see if you would agree with that or not).
Thanks, enjoy the Sunday, and be safe if you are working long hours. | |
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Lazy Sunday Post....
