Posted by paul on July 20, 2012 at 11:37:05 from (66.60.222.64):
In Reply to: corn sold ahead posted by c-man on July 20, 2012 at 11:21:33:
Was the big operator in Illinois? Went bankrupt about a year ago, in _good_ crop & price conditions... Claimed he sold his crop 4 times over to make the most profit.
Anyhow, depends on whom you sell to, and what thjey want.
Ultimately you need to deliver the grain.
However, if it's a coop they may allow you to roll the contract into next year, for a few cents a bu.
Or, you might be able to buy out of the contract, for the price difference plus a few cents.
If you contracted to a feed mill or other end user, they might pretty much demand you bring in the crop for somewhere - they aren't buying and selling a crop to make money, they _need_ the crop.
So it will depend on who you are contracting with, how soon you discuss any problems with them, and so on. If the coop has delivery contracts of their own, and you don't say anything until the time is up and they have trains waiting to be filled; then the coop might not be so easy on you either. If you talkred to them early on, and they have time to find other grain to ship, they probably will work with you.
No one will want to contract with you again if you try to back out of a contract you had, to sell your grain for a higher price. That don't fly.
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