Dawn, Missouri | ImTheBoss - 9/22/2017 13:44
Got back to my $9 cash price sell target so I locked the remaining bushels left on a basis contract. 70% sold. How depressing to be excited about $9 cash but it is what it is.
Going to store the rest in an old hopper bin and hopefully pick up $.50/bu via carry/basis.
Anyone join me in letting some go today??
Sold Nov. on board at $9.86 - 9.85 1/2 and 9.85 1/4 to offset Oct. 9.40 and 9.60 calls bought earlier. Gave away a $9.30 Oct. call way too early bought on the low. Keeping $10.00 Nov. calls. Had orders in all day at $9.87 1/4 and finally gave up and went market. Down trend line of Nov. SB July 11 high of $10.47 and July 25th high of $10.25 1/2 came in Friday at $9.88. Nice profit helped offset the loss on the $10.00 Oct calls that went away worthless. Got a little too bulled up on the break and bought too early. Never been bullish corn but thought (think) soybeans are going higher - not sure when so kept the Nov. calls and hoping we can keep this thing going. Hard to stay in the saddle when hearing all these great yields but still think too many poorer areas on the SB to have the high national yield predicted. China is going to keep buying. Seems like everyone likes to trade sb anyway? Lots of crop in the field. Forcasts for rain and cooler temp up north. Record heat all around the country! There will be lots of variance in the SB yields. The good ground in IL, NE, MN, and IA will have good yields but the poorer ground will be substantially less. Wish everyone the best. Enjoy the posts (most) when they are NOT fighting!
Edited by Buddy Man 9/24/2017 09:41
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Soybeans in Frytown's sell zone!
