Posted 10/4/2017 21:31 (#6288040 - in reply to #6287520) Subject: They got burned by the spread (selling '17 beans in '16) not options
SD/ND/FL
They sold 2017 soybeans using the 2016 contract. 2016 moved to an inverse and they rolled to 2017.
I like to forward contract grain but selling 2 years of crop on the first small rally in 2016, at a unprofitable futures price for the majority of their customers, is mind boggling.