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Regarding contract defaults from below...
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Posted 11/18/2012 02:05 (#2703358 - in reply to #2702103)
Subject: RE: Regarding contract defaults from below...

I am a small acreage farmer who was brought up to honor your word. I have contracted beans and corn early the last 2 years and took a good beating on both. Normally between a 1/3-1/2 of normal production. I still made money. I can look the local elevator people in the eye. I have known them almost my whole life. I have a buddy that tried to talk me into buying out my contracts. Smart move he said. I was not forced into the contracts and I was lucky enough to fill them. My buddy told me recently soybeans, needs a $4.00 a bushel increse to break even on his contract buyout. Ouch! I fill so much better for doing what I thought was right. He also made a comment when he bought his contracts out, this is smart business. Hopefully the market will recover.
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