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  • Originally posted by dennis1 View Post
    LMAO, just how long have you been holding on to that one SD? right now you are 1 up on 55'S POST #185.oh darn, what a way to go to bed tonight.... laughing this hard!
    Glad you enjoyed it Dennis. I can listen to it without having someone to apply it to in my mind and still laugh!

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    • Originally posted by H. Bell View Post
      don't think the E-trade will be as transparent as the pit trade was. think it will be easier than it is now to fleece the sheep.
      Kinda my thoughts too. But since there is only about 1% or so of the volume going through the pits, it probably won't change us much, IDK?

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      • Originally posted by SDakotan View Post
        Glad you enjoyed it Dennis. I can listen to it without having someone to apply it to in my mind and still laugh!
        WHAT????? a mirror you say!

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        • Originally posted by dennis1 View Post
          WHAT????? a mirror you say!
          LMAO! Yep, sometimes the cold ugly truth hurts!

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          • cougar, if you have a lot of crop to sell, my condolences, hope you started on next years already.

            Hope for weather.

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            • Here's the way fleecing the sheep worked in the pits back in the day

              You wanted to sell corn @ 2.172
              Called the order in
              Broker called it in to Chicago
              Runners "run" the order into his or her pit trader.
              YOUR account number is suppose to on that order sheet***********

              OK corn trades to 2.18 you should have been filled,it WAS filled but maybe that trader in the pit writes HIS account number on YOUR order. So corn takes a nose dive of .06 YOUR order did not get fill and that "trader in the pits" pocketed YOUR .06. You may not think .06 a contract is much but do that one or 2 days a week of say 10 contracts and that "pit trader" had a DAM GOOD WEEK. The old school pit way I would not know if the order fill til later in the afternoon after the close.

              Now I call my broker ( i can do this online my self if I want) say I wanna buy corn at the market. THE FIRST THINK HE DOES,,,,,,,,,,,is put MY ACCOUNT number in the little order pop-up box, MY price (open) and most times in 5-10 second he says MY order filled at x.xxx price. PLUS NO ONE see's my MY order price.

              I would much rather trade anything in E over ANY pits.

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              • Now you may think you've never had a order in "the pits" but if you sold grain with a local you've had a order in just the same. Your local elevators order did not get filled so YOUR grain did not get sold. And that .06 of YOUR money that when in someone else pocket.

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                • grains performed OK today given the US$ was up over a full pt.Wheat had a weekly reversal,corn had a higher weekly close.beans also took last weeks lows and closed higher for the week but it closed about mid range where corn and bean were at the higher end of the range.
                  meats finally had a decent close most were close to limit up,even piggys almost had a limit move today,alot of resistance in fch @ $2. which is where they closed,if they can follow thru next week then maybe they've turned the corner,lcj rest 152-153,todays close 151,beef cutouts were sharply lower on light to mod movement,looks like cash cattle traded $1-3 higher although overall volume seems light,but may pickup.seems like lately cattle have a short covering rally on Fri only to give it all away the next week.for the week lcj are a buck lower,fch were down $5.00,but did close $5. off their lows,cash feeder index 210.65,down about $1.50 for the week

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                  • How long will it be before we have "flash crashes", like they've had now a couple of times in the stock market? I have so little faith in anything any more. It just seems we are sheep being led to slaughter.

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                    • Originally posted by Tas View Post
                      Here's the way fleecing the sheep worked in the pits back in the day

                      You wanted to sell corn @ 2.172
                      Called the order in
                      Broker called it in to Chicago
                      Runners "run" the order into his or her pit trader.
                      YOUR account number is suppose to on that order sheet***********

                      OK corn trades to 2.18 you should have been filled,it WAS filled but maybe that trader in the pit writes HIS account number on YOUR order. So corn takes a nose dive of .06 YOUR order did not get fill and that "trader in the pits" pocketed YOUR .06. You may not think .06 a contract is much but do that one or 2 days a week of say 10 contracts and that "pit trader" had a DAM GOOD WEEK. The old school pit way I would not know if the order fill til later in the afternoon after the close.

                      Now I call my broker ( i can do this online my self if I want) say I wanna buy corn at the market. THE FIRST THINK HE DOES,,,,,,,,,,,is put MY ACCOUNT number in the little order pop-up box, MY price (open) and most times in 5-10 second he says MY order filled at x.xxx price. PLUS NO ONE see's my MY order price.

                      I would much rather trade anything in E over ANY pits.
                      Olie: You are FOS. Whether Pit or Electronic, all you have to do is use a Limit Order which means that it does not fill unless the price is your price or better. For the so-called abuses that you allege on Pit Trading, it is rampant on electronic trades. There is a Bid/Ask. If you put in a "At The Market Order", you are going to get the exact abuse...electronically...that you allege happened in the pits. BTW...front running orders is highly illegal...then and now. With the Pits, it was impossible for High Frequency Traders to manipulate the markets with trading algorithims. Now, there is absolutely nothing to stop this abuse. It happens every day on the NYSE.

                      This may come as a shock to you, but whether Pit or Electronic, there are "Market Makers" who can legally do your alleged abuses to...Make a Market.

                      Sometimes, I wonder how much trading you have actually done??????

                      Lars
                      Last edited by 48; 02-08-2015, 08:05 PM.

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                      • 1 thing is 4 sure,

                        u can bet on most anything.

                        good luck to ya.


                        Originally posted by GREG1 View Post
                        Maybe it's time to start thinking about this topic or maybe not? I've locked in some corn and beans and some inputs too boot. I feel a rally into spring will bring higher prices but from what point? I hope you ag webbers will continue to give good advice in this new year. As always I'm riding my unicorn eating all the skittles I can stuff in my mouth.

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                        • Originally posted by Tas View Post
                          I am on record as the gap in GFH @ 288 will stand for 10 years. Chip Flory of ProFarmer is on record and he just repeated this late last week of cattle unto new highs in 2015.
                          288 gap?...did you mean 228 tas?

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                          • Well 48 that's is the why it was explained to me, probably not .06 but a penny or 2 on many contracts adds up.YES its illegal but so is stealing. There's fraud anywhere there's money to be made, little local church the treasurer was skimming money of the top and a church for God's sakes... Then don't think we want to bring up Crop Insurance fraud either.

                            HFTtraders,,,,,their here to stay,,,there's been a building built to house them right across the street from CME. They give the market liquidity and makes it move. Whether $8 corn OR $4 we just don't hear the bxtching at $8.00 this applies to the spec money also.

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                            • Yes GG oophs typo, little .27 gap at 2.28
                              There one tiny winy one in soybeans from back in the drought around $17.50ish in ZSX12

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                              • all west coast loading and unloading were suspended because of a backup in containers,also heard workers were not going to reciev premiums as work isn'nt getting done,looks like strike is escalating. US farm report had a analyst on this weekend who said beef exports add $300 to the carcass value,also said cutouts were dropping as beef scheduled for export were being sent back into the domestic supply.
                                US steel workers also escalating,another 1440 workers walked out of ohio and ind refineries,this affect 17% of US refineries

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