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cropsey, il 61731 | I've taken a on line marketing class back when only dialup internet was around. The best part about such a class is that futures, options, basis, etc get explained in detail so you're left with the understanding (generally) where these fit. Beyond that there is lots of opinion being taught. I remember that it was said over and over again, when wheat and corn price meet they blow apart because of the fundamentals of the relative feed value. This was supposed to be a market timing strategy. In the end it's important to know what you are doing, but understand that doesn't mean you know how it will turn out.
I can't imagine Kluis or any of these guys has all the answers - they probably wouldn't be teaching the class if they did. However, getting a good education on the market functions can be very valuable when the tools are needed (ie. livestock folks are doing lots of hedging to keep their business barely in the black since all to often the spot market offers a loss most days). Today when we still have $1-$2/bu profit potential, using marketing tools isn't as necessary and may not pay for themselves as often - ie. the coup marketing strategy of selling at $8 has offered the highest return (remember - hammer near phone, don't sell until corn is over $8). In tighter times locking profits with marketing tools could mean the difference between a profit and going out of business. | |
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