John, please let me respond to your statement about buying the put. If he wants to take advantage of an INCREASE in the market AFTER he sells the grain he should buy a "call" option. If he does not sell the grain and is concerned about the market going "down" then he should buy the "put" option. I am a registered Commodity Broker and all my work centers around marketing grain for grain farmers. I DO NOT KNOW WHAT THE MARKET IS GOING TO DO, but would be happy to answer any questions. Please be aware there is always risk associated with the futures market.
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Today's Featured Article - Madison's County - by Anthony West. Philip Madison has been a good friend of mine for quite some time. He has patiently suffered my incessant chit chat on the subject of tractors for longer than I care to remember, and on many occasions he has put himself out, dropped what ever it was he was doing, to come and lend a hand cranking handles, or loading a find onto a trailer. Although he himself has never actually owned or restored a tractor, he was always enthusiastic and always around helping with other peoples projects.
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