Posted 7/12/2019 00:32 (#7610006 - in reply to #7609954) Subject: RE: Selling spot corn
Columbia Basin, Ephrata, WA
LawrenceWelk - 7/11/2019 21:19
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.
You don’t know the details of other peoples’ deliveries.
There could be someone out there that has been selling spot corn at $5+ lately, never waits in line to deliver, and doesn’t pay drying charges, ever.
The word you’re trying to type is schmuck. Try not to be one.