| 1953farmer - 12/24/2023 02:22
My banker said it is very disappointing that so little of their customers corn was sold at higher prices. I am considered a perma bear because I pick tops.
That also shows how little they understand
The best move that one could have did in the past 12 months was to have corn futures sold, calls sold, puts bought …..then took profits on the sold calls, short futures, and long puts……and bought courage calls in May ……followed by selling the courage calls, buying puts, selling calls, and selling futures in mid to late June
Then took off all of the profits in the short futures, short calls, long puts in early July. And buying courage calls again…….selling the calls around July 24 and then selling futures, buying puts, and selling calls
Followed by locking in profits on all the above sometime between Aug and Nov
The guys that did this or something similar didn’t sell any cash corn…..they have profits booked and are working on the basis and the carry now
The banker shouldn’t be asking wha they got corn sold at…….it should be good job on having all of that money in your hedge account and when he adds up the corn value to the locked in hedge profits he should be able to tell that the farmer will be doing very well on his corn sales……much better then the guy that got it “sold” at the high prices |
perma bulls and perma bears
