It’s going to be a VERY brief post today, folks…
- I planted corn until just before rain Saturday night, and I’m going to head back out and get back at it this afternoon
- I was feeling bullish enough late last week that I decided to begin converting some of my sales to minimum price contracts by buying a call option. I decided to buy a JULY at-the-money call for about a dime. At the time it appeared that we could have some good volatility on adverse planting weather, so I bought a JULY because it’s close to expiry (i.e. I’m not paying much for time), and any rally will either be dead by the time the option expires, or if it’s still going I would then have enough equity to roll up and out.
- Enter President Trump with his Sunday Tweet storm…nevermind on that bullish thinking…
- Averaging Contract Updates:
- Corn: 4 weeks of 10 priced @ 3.85 CZ’19
- Soybeans: 1st week of 9 priced @ 8.65 SX’19
GOT RAINED OUT OF THE FIELDS AGAIN TODAY, MARKETS IN THE TANK…MIGHT AS WELL EAT A STEAK AND DRINK A BEER…
The BullSheet 