Ridgway, IL | YoungGun21 - 3/2/2016 21:00
75% of your best crop is already priced for 2016? May I ask at what futures price? The price ahead guys have been right 3 years in a row now, bout time for them to get burned again I reckon.
That is correct. Average is around 4.10-4.15 dec futures. Have been putting on and adding to position since last fall.
My opinion, if we see a lot of conditions change, we will look at re-ownership strategies. But if we see just any normal seasonal strength we will probably look at adding to deferred positions. There are just so many levels of things boning the corn market right now, unfortunately.
calls are cheap as can be, before long we may look at owning some July 4$ calls just as a weather play.
I think we need to be defensive here.
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Weather Scare
