"If farmer has 50 acres of orange trees and recieves an order for 10 tonnes of oranges at the start of the season. If they do not have the cash upfront to harvest and send the produce at the start of the season they have little option but let the oranges rot on the trees or attempt to obtain finance at exorbitant rates."
Absolutely dreaming if this is your theory. This post actually reinforces how detached you are from the realities of Agri and SPX. Firstly, farmers don't "receive" orders (spelling corrected ). They usually harvest everything they can, and pass on the produce to the distributor or co-op. The price received is then determined by supply/demand. Second, harvesting costs are not a major cost in the scheme of things, so it is generally not a cost that causes financial stress or the need to borrow (WTF?). I have yet to know a farmer who lets their crop "rot" due to not being able to afford harvesting (total BS).
I work in Agri, and from my experience, since the late 90's, the only issue farmers have at the start of season is whether they are going to order a new John Deer, or a BMW, to reduce their taxable income (seen the price of commodities lately?). Yes, we have all seen the sob stories of farmers on ACA.... how they had a bad year and won't be able to feed their families, etc, etc boo hoo. Now lets get back to the real world, and stop making s#!t up to reinforce your cognitive bias.
SPX Price at posting:
2.4¢ Sentiment: Sell Disclosure: Not Held
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