Joe R - 9/8/2024 08:30
Bins full/bins empty at a commercial are zero indication of hedge pressure. An end user can have 10 million bushel elevator empty with 5 million that has been used but not priced yet still in DP. How do you know for fact there is zero hedge pressure/harvest sales in Kansas? Are you confirming with all those trucks driving by?
There's some.. but most is going to usage.
The funds have to buy while the feeder buys.. the ethanol user buys.. the exporter..
I don't have to hedge any more till after Jan 1st.
Btw..Some of us already did.. hedge.
Why sell now if it's going to $5?
Meanwhile the Funds have to Cover.. or Roll.. and then Cover..
I can wait .
Edited by JonSCKs 9/8/2024 08:40
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Musings from the land of 60 bu corn..
