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niobrara nebraska | Long time lurker over here. Why in the world did we get the big pop up on Friday in corn and beans? Personally just sold a 5k contract of corn for 3.01 cash and bought march futures for 3.50, since we are out of bin space. Great move maybe I picked the low and can ride it up? Would have rather just sold 3.50 cash as all of my contract for nov. delivery but can't make the right decision will ALL of your bushels. Heard on the radio how basis has firmed in the I states and end users are needing it, but farmers are holding tight. I would assume this is fairly temporary until after the first of the year for tax purposes or "I just put it in the bin, why would I take it out". Hoping for a 25-30 cent "dead cat bounce" and I would get out of my position as would others.........Then down again until the spring run up due to acre battle. Could have went to july as some suggested but the price out there was in the 3.70 range and figure 25-30cents is nearing 4.00 futures and sure don't see that happening anytime soon. Anyone care to share there thoughts? | |
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why the big up on fri?
