I put in a bunch of orders below where we are trading, but this thing seems to have frozen in place, the volume is way down. Hopefully the Algos come in and sell some.
Bloomberg) -- The squeeze on U.S. farmers is getting worse as low crop prices and rising costs erode incomes that not long ago were the highest ever.
Illinois grower Jason Lay said he will buy 30 percent less fertilizer for his 2,500 acres of corn and soybeans, and 7 percent fewer seeds for spring planting. After his most profitable year ever in 2012, Lay said he upgraded his combine, tractor, sprayer and planter. With crop futures now near five-year lows, he has no plans to buy any new equipment.
“You spend when times are prosperous so you don’t need to when they’re not,” Lay, 41, said by telephone from outside Bloomington, Illinois. “That’s how you make it through.” He estimates his profit is down by a quarter from its peak.
Definitely looks like $17.50-$18 is an area where this struggles. Maybe the hedges are good, but you have to factor in the current price levels for Crude and NG when evaluating the price you can pay for this.
This will probably trade down to $4, possibly lower. At $4, it yields 12.5% and that level recognizes the uncertainty we face.
I will be happy to see him #$%$-Canned.
Clearly they haven't been able to do anything here to help their pitiful boss keep his job. The whole company is infested with low grade dog food.
embarrassment as a CEO, but he continues to hang on. When they fire him he is finished in this business.