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NE Iowa | Been away but wanted to provide some balance to your Accumulator comments. I had one got knocked out yesterday when cz traded south of $3.70. Was I happy to see it? Heck no, but this one was selling cz @$4.50 with a $4.00 floor and a $3.70 knockout. Now I would have much preferred to continue selling at 4.50, but my ave on this contract is $4.29CZ. With a roll to CN19 at some point, I'm sold over $4.50, which CN19 hasn't even traded yet. Kudoes to the CGB merchandiser that alerted me to one. Granted, his job is to buy bushels and mine is to sell bushels at a profit. Goals attained.
Accumulators have their place and to unequivately not to use them is your choice, but as with any marketing tool, timing is the key. I'm sure some as yoou cite, have bad taste in mouth but it's too early to say if they'll turn out bad. There is a beautiful crop growing out here and we still might be a buck too high
Good luck to you | |
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