Have you noticed how slow the mail delivery has been? Have you ever tried to be so smart you did something stupid?
The grain markets have finally appeared to have slowed or stalled their upward trajectory. Who could have seen or predicted such a rally? While most of America ponders the fate of the Dow and other stock funds, farmers are keeping a very close eye on the grain markets and perhaps the price of oil and many crop inputs.
Currently grain prices have retreated from recent highs. Rains have become more abundant in South America where millions of acres of soybeans and corn are maturing before being harvested after the summer growing season in the southern hemisphere. There is also some concern that the value of the US dollar and actions of the new administration may affect grain prices and exports.
There are some who believe that very high prices are bad for farmers and may stifle demand for our crops when end users ration their purchases. The best example of this scenario is how many ethanol plants have reportedly closed since there was no profit turning corn into ethanol until the price of corn goes down or the price of oil/gasoline goes higher.
Farmers are busy preparing for tax filings, hauling grain, fixing equipment and securing the many inputs they will need for the next growing season. I thought I was going to save some money when a local ag-supply retailer was offering big savings during their “going out of business sale.”
After 2 hours of filling carts with twine, chicken feed, tires, and a multitude of essential farm supplies, I headed to the checkout lane. I was pleased that several large ticket items were 30% off. My joy was short-lived; my credit card was denied. I had to leave the store. I did not have any other means to pay the $1100 bill.
I only have one credit card. I use it for many farm expenses. The previous two months my payments had been late due to slow mail service. I thought it would be smart to pay my December bill earlyy, and I included an extra $10,000. This amount would easily cover several months of charges, and I would not be affected by slow mail service.
A call to my credit card issuer revealed my payment took 17 days to arrive; it was one day late. They did indeed have my payment, but my card could not be used. My smart idea backfired. Any check over $10,000 triggers a fraud alert, and they locked the account for 3 business days, which became 5 because of the weekend and MLK holiday to verify the check is good. I was dumbfounded, I had wasted 3 hours of my life.
How is it that every day millions of people can order some cheap foreign made trinket and get it within two days but the mail is sketchy? Perhaps I should make my next payment with Amazon prime. In retrospect, my mistake with the card payment is minor when compared to the fact I sold all of my soybeans before the market reached $11.00. It is only January; I sure hope this trend does not continue.
0 Comments