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Rockford, IL | We were hedged significantly in 2014 corn futures the latter part of 2013 and got out of those hedges back in December. Chose to take those profits and not deal with the holiday range trading. Yes we left a some of the down move on the table by doing so but did it anyway. We did put back on some hedges by selling some futures on a much smaller amount of our 2014 corn at $4.50. Going into the report we sold some calls and also had some ATM Feb puts on. We elected to take small profits on the calls yesterday instead of holding them through the report. The markets went against our puts that we had on today and we got out of them for a small loss today before he markets closed. Some clients may have broke even to a small loss for others on our "Report Hedge" strategy depending on the price they got from their brokers. | |
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Gulke must have been WRONG?
