1 min read
Phil Luce: Mar 25, 2021
Unmet expectations are the springboard for all kinds of human problems. When things don't go as expected, the likelihood of becoming irrational or having exaggerated emotions is high. What does this look like in the context of merchandising?
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1 min read
The country elevator is in an enviable position to serve as a price neutral conduit for grain from producers to end users. In order for this to work,...
2 min read
A good basis trader will spend an entire career refining his/her basis trading knowledge and skills. However, every principle of basis trading is...
2 min read
Phil Luce: Aug 6, 2020
Why? Pre-spreading is about locking in spread structure that will support your merchandising plans. (e.g., if you plan to carry grain you need a...
1 min read
Phil Luce: Jul 15, 2020
We (human beings, that is) are strongly motivated by FOMO – Fear of Missing Out. Any decision we make before we are forced into deciding means...
1 min read
Sherry Lorton: Jun 16, 2020
I ran across this in my favorites folder the other day. I thought it a worthy reminder of how being successful in the grain elevator business is...
2 min read
Phil Luce: May 19, 2020
Last spring, things in the grain world were a mess. Huge swaths of the country were late planting or not planting at all. The general sense was that...
4 min read
Part of my job at a country elevator was buying grain from farmers. I want to be completely clear that the vast majority of my interactions were...
4 min read
What is contract integrity? Simply put, contract integrity refers to the viability and enforceability of a grain company’s policies and procedures...
2 min read
According to recent statistics, financial fraud is on a significant upswing. Last year, 82% of businesses in the United States suffered an instance...
