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Tidbits, 2 Clients Story, S&D Expectations, SAF, Meal Puts, Markets & Rain Days Update 8/9/23

The Story of Two Clients


Chris and Doug were email subscription clients in May 2022. Both farm in Iowa and both became full service clients of Lance’s in early August of 2022.

Chris is not going to renew his subscription. He is very upset with Wright on the Market because markets have gone down and all we do is keep saying markets will go higher.

Doug renewed his subscription at once upon receiving the invoice this month.

What is the difference? Same emails. Same full service consultant. Same state, 210 miles apart.

Doug sold 100% of his corn with a HTA in May of 2022 at $7.50 or better as recommended on May 13th 2022. He set the basis months after harvest and was paid an average $7.94 on 100% of his 2022 corn.

Doug locked-in his soybean basis when Lance suggested he do so and waited months for the bean futures to rally. His cash price for his 2022 beans was $15.94 when old crop futures moved above $15.00 In July.

Why the difference?

Chris did the same marketing program, used the same marketing tools and decision process he always did. Doug used some marketing tools he never used before after he learned from Lance what the pros and cons were of those marketing tools.

 

Highlights


Stock markets around the world skidded and the dollar jumped on Tuesday after Moody's cut the credit ratings of 10 US banks, put 6 others on their “review” list for a downgrade and put 11 banks on their “watch” list for downgrade. Here is Moody’s summary:

On the positive side, the percentage of US corporate debt trading at distressed levels is the smallest in 11 months. The US economy 11 months ago was in its first quarter of economic expansion following two consecutive quarters of economic contraction, the government’s definition of a recession up until last year.

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