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Southern MN | +1000. My cousin trade ethanol for 15 years for a very large firm. Many times he just could not get out of a position as there was no volume, positions in corn that we can get in or out of in seconds could take him weeks to get out of in ethanol. One day I was riding with him on a little trip we took and he had several unit trains he had purchased of product, thought they were hedged but because of the small volume was stuck in a position he couldn’t get out of. Met a few of his buddies that traded energies for other firms for dinner during that trip when the —— hit the fan for some reason or another during the noon hour in the energy markets. Always wondered how many millions were lost while we had a burger and a few beers that day. | |
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Correct me if I’m wrong
