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| A friend told me that Progressive Ag was sold up to 85% of their 2011 corn crop by before the 1st of this year at an average price of around $4.80 futures. He wasn't sure if they had bought back any of their hedges recently or bought calls before the spring's rally. Does anyone get their letter? I'm curious as to what their rationale was.
I'm all for selling at a profit but that's awfully early to be marketing 85% of your crop.....IMHO | |
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Progressive Ag - 85% sold on '11 crop??
