Posted 7/11/2019 23:19 (#7609954 - in reply to #7609761) Subject: RE: Selling spot corn
The bin it and spot price group blows my mind. You sat on unpriced grain (100% risk) and now you finally sold it. Well to tell ya something, I sold my grain probably 10 .months before you for a CBoT price of $3.97. I then rolled it to July, picked up $0.29 of carry. Then the basis appreciated, and I picked up another $0.22 from the harvest price. All said and done I hauled my corn in, in January and received $4.02- $4.12 cash while all you smucks waited in line for $3.50 cash, in May. Now there's lines again and smucks waiting. I have 20,000 gambling bushels of corn, so now I'll sit with you smucks eventually for$4.50cash
Current cash corn price is $4.27 by a stroke of a miracle of luck. Basis is -0.19 which is unheard of. I'll be collecting $4.36 cash tomorrow for 5,000 bushels, sell a head folks.
Long story short, selling ahead and collecting the carry has worked for years! It doesnt appear to be changing anytime soon.