Formerly NE North Dakota, now NW MN | I think most honorable farmers know the difference. I will bring up one situation where I would consider rolling old crop futures to new and delivering against the cash price, but it's a pretty narrow situation.
Taxes are going to go up in 2013. If I had futures contracts that were quite a ways out of the cash price, I would approach my elevator manager and ask him if he'd be comfortable rolling my futures into 2013 and delivering against the cash price in 2012.
I would NOT, however, deliver to a different elevator under that scenario. That just invites way to much.... I donno... bad blood, bad communication, ect...
Other than that.... Why delay the inevitable or invite a lawsuit or even ruin your reputation? I think elevators are pretty generous to give us HTA's and to let us roll them when we have bad production years and have to roll em. It's disappointing to hear about people abusing it. |
Am I the only one who fills my forward contracts if the market goes up?
