ABSTRACT
Farmers expend an inordinate amount of time, investment, and resources prior to planting and during the production phase, but some readily want to waste it postharvest when the product finally eventuates. Hoping for a favourable production outcome preharvest is often replaced by price frustration at harvest time and then opportunistic behaviour postharvest in an attempt to improve price using the product. 1 The alternative is for a sale near harvest and the use of buy calls to enhance price after the sale, on the assumption of some price opportunities and market capability. Whilst an early sale plus buying calls does not capture any subsequent favourable basis movement, it does avoid subsequent unfavourable basis movement.
