East of Broken Bow | SteigerMan310 - 8/11/2024 10:16
Bins paid big this year on hedged bushels. 50c in market carry and 50c in basis appreciation storing from fall to June. Just finished building another one, great ROI. Sure there was about 20-25c in interest cost by holding that long at 8%, still a slam dunk
I gained almost 50 cents on the corn I put in my bins, and then contracted for summer delivery, when you add price as well as basis appreciation when compared to taking harvest price.
Unfortunately, I went backwards about 35 cents on the bushels that I did not contract in the winter/spring and instead had a wait and see attitude on pricing. So, overall I wasn't as much ahead as I had hoped, but I must say there was a lesson learned: When you can sell for a price that gives you a profit, you will never go backwards. |
Funds covered 50k, corn made new lows
