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| If your two years sold ahead you better get coverage. Today I sold dec20 physical corn and bough dec19 calls. Nearby should rally if the spring wetness continues. |
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| I like that move. Have a little over 1 years's production bull spread 2019-2020 on futures. The calls are a nice touch against the shorts. If we truly rally we should see 2020 come up some too.
March 2020 futures knocking on the door of $4 again, would have been nice to get a close there. 3.70 nearby close is a good sign though.
Quietly watched corn/soybean NC spread go to 2.235. Be interesting to keep watching that. Later planning means corn is starting to try and keep acres.... |
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Frytown, Iowa | Centuryfarm - 5/2/2019 13:43
If your two years sold ahead you better get coverage. Today I sold dec20 physical corn and bough dec19 calls. Nearby should rally if the spring wetness continues.
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NW Indiana | It is like you are referring to someone in particular. |
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| Dude you sure can make me chuckle when i need it, thanks |
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SE Iowa | Look at all that carry you bought... cn19/cz19 narrowing...its telling you something....best buy nearby if counting on wetness. |
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SE Iowa | Little steps....20 off lows that is a miracle in itself. |
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| Yup |
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WC MN | 23 days roughly. Ill hold you to it |
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| Oops.
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Frytown, Iowa | Lord God in heaven, don’t let me store grain in vain.
Aaaamen! |
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N.W. Ohio | Yep, I guess I wasn’t the only one to calculate that out. I’m a patient man..... I can wait that long! Thanks for the heads up Fry!! lol |
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| I'm not sure I follow, he bought a really wide spread. Is that the carry in a sarcastic sense or am I missing something? |
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C IL | So ... a narrowing spread implies there is less relative concern about securing future supplies, or more relative concern about securing nearby supplies?
So that maybe means the market feels well supplied between US stocks and S America harvest? |
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| It implies greater concern in general. If you may need it later and it isn't available you will wish you had it. If you buy it now you have it later. |
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SE Iowa | Reread what was done.
Bought cz19 calls which cz carry is a 16 premium plus the strike plus the premium of the strike and sold cash off of cz20 minus basis which has no carry from cn2020 but at discount.
No future spread involved.
He is digging at someone here with the “if” part.
Edited by Palmtopper 5/2/2019 21:45
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SW minn | May I ask , did you do that dec 20 on the board or did you find an elevator to go that far ? If by futures then how many cents per bu do you figure for interest cost on margin money? |
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NW Indiana | He is trying to make someone call the plays during the game instead of Monday morning. But I'm sure we will hear all about how price did exactly what it was supposed to, probably even to the tick. I do recall someone predicting 3.7175 as the December contract spring low but that was before it happened so it doesn't count(and I was off on when) |
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| My figures show .015 cents per bushel hedged. I used $800 for the margin even though it's $770.
$800/5000 bushels * (5.5%)/360 * approximately 18 months * 30 days per month. |
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| I bet I read that post 5 times and every time I read July call and sell Dec futures. Lol I might be an idiot.
Thanks for paying attention since I obviously don't. |
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| IN555 - 5/2/2019 21:52
He is trying to make someone call the plays during the game instead of Monday morning. But I'm sure we will hear all about how price did exactly what it was supposed to, probably even to the tick. I do recall someone predicting 3.7175 as the December contract spring low but that was before it happened so it doesn't count(and I was off on when)
Ha. Its sure nice of century to have "other"people in his thoughts when he is buried upto his neck in BIG problems. It was stated here numerous times months ago we would have to test 3.35 front successfully to open the door for a larger degree rally. Yep. Did it. I would guess if someone has that type of visibility of price, most likely is still way ahead in the game....but what do I know.
Take care
Edited by J P 5/3/2019 05:28
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Clinton County Ia | When did we test 3.35? Or did i read that post wrong? |
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| ndxln - 5/3/2019 06:48
When did we test 3.35? Or did i read that post wrong?
Price operates in more than two dimensions. It was a tick perfect 3.35 test.
Take care
Edited by J P 5/3/2019 07:07
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| Must have happened in 18 , don't see it in 19. |
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NW Indiana | I called that one coming!!! "tick perfect" lmao you must be talking about the march contract if it had been trading |
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| He got some splainin to do on that one. |
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| JC STONE - 5/3/2019 08:55
He got some splainin to do on that one.
Been there done that countless times.
Take care |
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| Just don't see where 3.35 printed |
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Spreads are coming out
