Philip Luce

2 min read

Is Deferred Price the Answer?

A big drop in prices has farmers understandably reluctant to sell, but the grain industry still needs to grind, process, ship, and otherwise do what it does with grain every day, and grain handlers still need to manage logistics, grain quality, and...

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thumbs up at producer meeting

1 min read

Attitude Is Important to Grain Buying

I was recently talking to someone who buys 90% of the grain that crosses the scales; some spot and some forward contracted. The approach is nothing...

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1 min read

Keep Your Long Futures in the Nearby and Your Short Futures in the Deferred

Old Advice for Current Times I first heard this maxim about 25 years ago, and it wasn't new then. The person who shared it with me learned from an...

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normal to new normal image

3 min read

Use Old Skills and a New Approach to Navigate Volatile Markets

The volatility in production, futures prices, basis, and spreads of the last few years have caused many of us to abandon the idea of a “normal”...

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1 min read

5 Keys for Survival in a Flat or Inverted Spread Environment

Most merchandisers don’t enjoy trading markets with small carries and/or inverted spreads, but by all appearances, that is what the market is going...

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1 min read

Is the Grain Elevator Business Model Broken?

Let Me Give Away the Ending: No Despite years of articles predicting the irrelevance of the country elevator, it continues to be an important part of...

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