Friday July 18th, 2008 we decided protect our feed needs in both corn and soybean meal. I used a call strategy to give protection if the market moves higher but also leaves the downside open in case the market isn’t finished moving lower. The same has taken place in meal. I still feel that Dec corn could trade $6.00 but it has also dropped $1.72 and that looks like an opportunity we shouldn’t pass up.

Hurley & Associates believes positions are unique to each person’s risk bearing ability; marketing strategy; and crop conditions, therefore we give no blanket recommendations. The risk of loss in trading commodities can be substantial, therefore, carefully consider whether such trading is suitable for you in light of your financial condition. NFA Rules require us to advise you that past performance is not indicative of future results, and here is no guarantee that your trading experience will be similar to the past performance.