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, you must start by always being fully hedged. Once you have a routine in place to keep the elevator...
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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...
1 min read
Sherry Lorton: Oct 16, 2019
How many times has a farmer come into your office and told you about some "great, new marketing alternative" that the guy down the street is...
