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| Still in the nearby as a futures contracts position. Looking to move to a different month. Considering new crop....they are cheap vs where they could be at some point this summer. Going to buy 2x the amount of calls a little ways out of the money. Sounds like bean acres up big. There’s only so many acres available. If corn acres are flat or down with current demand, then new crop corn is underpriced. Throw in a little dry weather for good measure and $5 will be cheap. Of course the USDA will print an acres and yield number that is not attainable but I’m prepared for that. | |
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Prices dropping will not slow demand
