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| The G to EX on corn is the lowest figure I see in my MDI data since the fall of 2002 when 43% of corn rated G to EX and 39% of soybeans rated G to EX on 9-18-2003 but I have some gaps in my data from 10-2004 back except for the late season reports. As of 7-8-2012 - Corn = 40% G to EX and Soybeans = 40% G to EX.
Should support a higher opening this evening especially with Crude oil over $1.00 a barrel higher, the dollar around ($.25) lower and Gold up $10 or so.
May be time to look at some put options ahead of the July 11th crop report as any market that moves up this fast may have a correction from oversold conditions at any time - OR - may continue to run so put options place a floor and leave the top open with no margin call risk.
Everybody's situation is different on the amount of risk they can afford and the condition of their crops vs. the amount of sales or price protection already in place.
I will soon be looking at some cheaper DEC 12 corn puts to lock in a floor on the harvest price for my insurance as I doubt that I will raise enough bushels to reach my APH level.
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