Posted by randallinMo on August 08, 2008 at 09:19:08 from (216.74.200.174):
In Reply to: OT Grain prices posted by Big M on August 08, 2008 at 04:51:59:
The purpose of the futures market is for "price discovery". The true role of the speculator is to accept the "risk" of either buying or selling the product from the producer. You think the market is going down, so you sell. He (the spec) thinks it's going up, so he buys it. Simple supply and demand. Farmers never complain when prices go up.....he's loving the spec's then. Only problem is, the farmers won't sell when the price is going up because they might leave something on the table. The Chicago Board of Trade is the greatest price discovery system in the world. Yes, it does have it's problems, but take it away..........then we WILL have something to complain about.
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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