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The short Sept, long Dec Spread may move to a dime. Demand is tough when the
dollar is strong. As we say in Chicago, Support is where the farmer will not
sell. Interesting, though the consumer has not seen falling prices at the
grocery.
Also, look at the short Dec, long March Spread. Traders in Chicago also
butterfly the spread.
Short Sept, Long Dec. and Short March. Also, look at the Long Wheat Short
Corn Spread at these levels.
Why farmers do not use these markets t hedge will always remain a puzzle.
-----Original Message-----
From: Robert W Cummings <robertwc@xxxxxxxxxxxxxxxxxx>
To: Neal T. Weintraub <thevindicator@xxxxxxxxxxx>
Date: Saturday, August 01, 1998 10:31 PM
Subject: Re: Let's get the facts straight
>At 12:13 AM 8/2/98 -0700, you wrote:
>>Good luck to you...See you when Corn hits $2.00 El Nino where are you?
>>
>
>Hi Neal;
>
>
>I'm in Huntsville, Alabama we grow some fine cotton down here. Neil where
>we going to start buying 99 corn
>after the big crop the sorry demand and the strong dollar man we going to
>get this stuff to cheap. I looking at some bear spreads and maybe buying 99
>corn futures Sept to get long term capital gains and and some puts to limit
>my down side risk. I made I best money this way over the years. Corn can't
>remain below the cost of production for ever and the weather is still crazy
>and will do something weird by next year. Next the cattle market is going
>to collapse as the farmer tries to walk the corn off the farm.
>
>Robert
>
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