Posted 5/20/2020 10:39 (#8269278 - in reply to #8269052) Subject: RE: So if your a crap marketer you got bailed out today
I agree. I would like to take them all away.
But this one is different than others that have affected me before. Maybe that makes me a whiner, not sure.
Full disclosure. I sold all corn and beans out of the field. Rolled corn hedges from Dec out to July and then back to Dec. Took some profits on bean calls and then let them roll into long futures. Did about as well as I could have on corn but that long bean deal has cost me significantly. Could have gotten out in early January with a whole hide. Decided to wait to see what would happen with trade deal and Chinese purchases. Whoops... I got smoked on beans the same as anyone holding them in a bin but will receive nothing. End of the world? No, but it sure stings.
The programs I have dealt with previous to this might have paid me less than guys in the county next to me but my actual neighbors and competition were all on the same playing field. We all received close to the same. Not this time. It is going to reduce my competitive ability and I don't care for it. There were a lot of ways this could have been done. They chose the one that allows for the most waste, fraud, and abuse. How many people with HTAs are going to walk into FSA and tell them about the 90% of old crop that is covered at $4.25 July or higher?
At any rate, I will say again that I agree with you about any type of gov't involvement picks winners and losers. This one is just amplifying that to an extreme.
Should have added this.
I am in no way saying I am a great marketer. I am saying that I did the things I needed to do for my operation with the 2019 crop. When I don't, see the above example in beans, I expect to suffer for it. I expect others to suffer when they make a mistake. Is that fair? No. It's capitalism.