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IL | I started last winter with some HTA's at, at the time, was a very good price. It is still a good price. I covered with call spreads ( short calls have been bought back, so still covered)
I then sold more as cash this spring, at what is now, not a very atractive price. Those calls are coming in handly now.
Over the past few weeks, I have wantedt to get more agressive, but with the early yield reports, have backed off on that agressiveness.
Basis right now, wc IL. New crop is about 36 under Dec, where 50 under is normal, then normally gets worse. Dec cash, last week, was 9 under Dec. incredible!
Patience is becoming a virtue now. | |
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corn market...
