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Whistling past the graveyard
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RobCogdill
Posted 4/24/2017 08:43 (#5979710)
Subject: Whistling past the graveyard


In a van, down by the river...
I am already aggressively sold on my '17 crop, and have been completely out of '16 crop since harvest. Given the extent of managed money short, reduction in corn acres, and likely planting delays, I feel that buying some protection via long CN'17 calls is prudent and did so this morning. If you are in a similar position (i.e. out of old crop, have some new crop sold), waiting for lower prices to buy coverage feels like it's getting penny-wise and pound-foolish...or maybe whistling past the graveyard. This morning you could buy a 365 CN'17 call under 15 cents...it's hard to see how owning that right now could be too bad of an idea.
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