Tags: CAF Champions LeagueDenis OnyangoSC VillaSt. GeorgeSuper Sport UnitedTop Mamelodi Sundowns Onyango has been at Mamelodi since 2011 (file photo)Uganda Cranes skipper Denis Masinde Onyango has agreed to renew his contract with PSL side Mamelodi Sundowns on a four and a half year deal.The development was confirmed by the club on their official Twitter account confirming that the best goalkeeper on the continent has extended his stay until 2022.“Mamelodi Sundowns and Denis Onyango agreed on a contract extension of four and a half years. The Ugandan goalkeeper is currently the best goalkeeper in Africa having been named in the Confederation of African Football’s Best XI.” Read the Tweet.The skipper joined the sundowns in 2011 from Super Sport and has since been a key figure at the South African giants helping them win many titles including the CAF Champions League in 2016.Last year, he was named in the best XI for CAF, the only player to make the list while playing in Africa.It should be remembered that this was the second time, the 33 year old shot stopper was making Africa’s best XI.He has previously featured for SC Villa in Uganda, St. George in Ethiopia, super sport and currently Mamelodi.Comments
Share Facebook Twitter Google + LinkedIn Pinterest Beck’s Practical Farm Research (PFR)® innovation lead, Jason Webster, evaluates a new piece of equipment that will be utilized in seeding cover crops this fall at Beck’s London, Ohio PFR Site.
Share Facebook Twitter Google + LinkedIn Pinterest By Jon Scheve, Superior Feed Ingredients, LLCFor the last 8 years the price of December corn on the last trading day of November has always been lower than the last trading day of October. Corn closed at $3.63 on Halloween.On the other hand, for the last 8 years January beans on the last trading day of November were higher for 3 years, lower for 3 years and the same for 2 years. January beans were $8.52 on Oct. 31. My marketing strategy approachI try to maintain a flexible marketing strategy that maximizes profit potential and minimizes risk. This means that some of my trades are most profitable if the market stays sideways, especially if there is a lot of rationale for minimal price movement in the short or long-term. Like all farmers, I’m most profitable if the market rallies above breakeven price points, and I always want that to happen. Unfortunately, there can be long periods of time where the market doesn’t rally above breakeven points. That’s why being open to alternative trade opportunities can be beneficial. Still, while I’m open to alternative solutions, it’s very important that for each trade I must fully understand any potential outcome and be willing to accept any result.All four trades below were put on when different factors were affecting the market. In the end, I collected 65 cents of premium on 10% of my production, or 6.5 cents on all of my corn. While none of these trades allowed me to get additional sales in place, I’m satisfied with the final outcome.Reader’s note: I believe in being fully transparent with my trade outcomes, which I think provides a better foundation for understanding and considering alternative opportunities. Still, the amount of detail can be overwhelming for those just wanting an overview. For those wanting a more summarized approach, just read the sections titled “What Happened” and “What Does This Mean”. Trade 1: Corn straddlesOn 1/18/18, when Dec corn was $3.85 covering potentially 10% of 2018 production, I sold a $3.70 straddle (where I sell both the put and call for the same price), bought a $3.50 put and collected a total of 38 cents premium for the trade. The options expired on the Friday after ThanksgivingThen on 2/9/18, when Dec corn was $3.93 covering potentially another 10% of 2018 production, I sold a $3.90 straddle, bought another $3.50 put, and collected a total of 44 cents premium to place the trade. The options expired on the Friday after Thanksgiving What does this mean?If corn is below $3.57 on 11/23/18, I won’t sell any corn with these trades. However, I still get to keep some of the premium. At most I’ll make 30 cents of premium, if prices are $3.56. At worst I’ll make 20 cents of premium if prices fall below $3.50, but on only 10% of my production.If corn is above $4.20 on 11/23/18, I have to sell 20% of my 2018 production for $4.20. If corn is $3.57 to $4.20, then I get a value of more than what corn prices were at when I put the second set of options in place. For instance, if futures prices are $3.70, then I would get $4.30 for my corn. If the futures price is $3.90, then I would get $4.50 but on only 10% of production. What happened?Corn was trading at $3.60 on Friday, as the options were about to expire, I bought back the $3.70 and $3.90 puts for 10 cents and 30 cents respectively. I had to buy the options back because otherwise I would have been long corn, which as a producer I didn’t want to have happen. I let both call options and the $3.50 put options all expire worthless.In the end, I collected 42 cents total for both trades on 10% of my production that I will later add to my “pot of premium” on a future trade:28 cents on the 1st trade (i.e. 38 cents collected – 10 cents to buy put back = 28 cents profit)14 cents on the 2nd trade (44 cents collected – 30 cents to buy put back = 14 cents profit).I could have sold corn for the $3.60 Dec futures right before the market closed and with the premium I would have received $4.02 on 10% of my production. But, as mentioned above, historically November prices are the season’s low and market information suggests some upside potential is possible right now. So, I decided to wait to sell. Trade 2: Sold corn callOn 10/2/18 when Dec corn was near $3.68 I sold a Dec $3.70 call for 8 cents expiring 11/23/18 on 10% of my ’18 production. What does that mean?If corn is trading below the strike price when this option expires I keep the 8-cent premium and add it to another trade later. If corn is trading above the strike price when this option expires, I have to sell corn for the strike price PLUS I keep the premium. This means a price of $3.78 on Dec futures. My trade thoughts and rationale on 10/2/18Since I still need to sell some of my remaining ’18 corn, but I don’t want to sell $3.68 Dec futures, this trade allows me to get values higher than where they were on that today. If the market stays sideways, I keep the 8-cent premiums. There isn’t a downside protection with these trades, but that isn’t the goal for this trade. What happened?The market closed below $3.70, so the call expired worthless and I kept the 8 cents to put in my “pot of premium” for a later trade. Trade 3: Sold corn straddleOn 10/2/18 when Dec corn was around $3.68, I sold a Dec $3.65 straddle (selling both a put and call) collecting 20 cents total on 10% of my 2018 production. What does this mean?If Dec corn is $3.65 on 11/23/18 I keep all of the 20 cents. For every penny corn is below $3.65 I get less premium until $3.45. For every penny higher than $3.65 I get less premium until $3.85. At $3.85 or higher I have to make a corn sale at $3.65 against Dec futures, but I still get to keep the 20 cents, so it’s like selling $3.85 At $3.45 or lower, I have to buy corn sales back or simply take a loss on the trade.My Trade Thoughts And Rationale from 10/2/18With current production forecasts I think corn prices will stay sideways, and this trade is most profitable if it does. However, if the market drops significantly I’m not protected from losing money or may have to buy some corn back, but that’s not my goal with this trade. With what I know today, I still want the market to rally and will be happy with a $3.85 sold price, because I have several other trades working that need prices above $3.85. I’m comfortable with any market outcome with this trade. What Happened?On 11/19/18 the market was $3.64. I bought back the put portion of the straddle for 3 cents, but left the call in place hoping for a rally back above $3.65 on Friday and forcing me into a sale. In the end, the market closed under $3.65, so I didn’t make a sale, but I kept 16 cents after commissions from the trade to add to my “pot of premium.” Trade 4: Sold straddleOn 10/18/18 when Dec corn was around $3.70, I sold a December $3.80 straddle (selling both a put and call) and collecting just over 16 cents total on 10% of my 2018 production.What does this mean?If Dec corn is $3.80 on 11/23/18, I keep all of the 16 cents. For every penny corn is below $3.80 I get less premium penny for penny until $3.64. For every penny higher than $3.80 I get less premium penny for penny until $3.96. At $3.96 or higher I have to make a corn sale at $3.80 against Dec futures, but I still get to keep the 16 cents, so it’s like selling $3.96. At $3.64 or lower I have buy corn sales back or simply take a loss on this trade. My trade thoughts and rationale from 10/18/18This trade is once again most profitable in a sideways market, which I think is the most likely scenario right now. If the market does nothing through 11/23/18, I’ll profit similar to the trade above. With what I know today, I would be happy to sell corn for $3.96, even if prices exceed this amount in a month. I’m a little concerned with the downside risk but, it’s the middle of harvest and historically once harvest is over, and grain is stored, there is usually a modest price recovery. What happened?Like the last 8 years, November prices are trending lower than late October prices. On 11/19/18 when corn was $3.64, I bought back the put for 16 cents and left the call open, not expecting prices to get back to $3.80 by Friday. After commissions, I lost 1 cent, so the trade was basically a wash. Combined results and overviewTrade 1 = +42 cents on 10% Trade 2 = +8 cents on 10% Trade 3 = +16 cents on 10% Trade 4 = -1 cent on 10% Total profit = 65 cents on 10% of production after commissions.Knowing what I know today, I’m happy I made 65 cents of premium on 10% of my production, or 6.5 cents on ALL of my production. I made some low risk trades that allowed me to profit in a disappointing market. Until October I never risked more than 20% of my ‘18 production in sideways type of trades. Once more was known about the size of the crop I added more sideways type of trades based upon the information I had at the time. This allows me to make a little extra profit until we hit profitable levels again. Or if we don’t, this “pot of premium” might help me get to profitable levels.Once again, considering alternative solutions and including trades in my grain marketing strategy that take into consideration all market scenarios (i.e. up, down and sideways), was a good decision that help reduce my farm operation’s risk while maximizing my profit potential. Jon grew up raising corn and soybeans on a farm near Beatrice, NE. Upon graduation from The University of Nebraska in Lincoln, he became a grain merchandiser and has been trading corn, soybeans and other grains for the last 18 years, building relationships with end-users in the process. After successfully marketing his father’s grain and getting his MBA, 10 years ago he started helping farmer clients market their grain based upon his principals of farmer education, reducing risk, understanding storage potential and using basis strategy to maximize individual farm operation profits. A big believer in farmer education of futures trading, Jon writes a weekly commentary to farmers interested in learning more and growing their farm operations.Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Superior Feed Ingredients, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Superior Feed Ingredients, LLC does not warrant or guarantee the accuracy of such information or opinions. Superior Feed Ingredients, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results. He can be contacted at [email protected]
Edelkrone is at it again this week at NAB 2018. Meet their latest release, the Dolly Plus — an app-controlled dolly system.Top image via Cinema5D.You may remember last summer when Edelkrone released the Slider Plus, offering a fluid, motorized slider mount for anybody working with time-lapses or interviews. However, like most Edelkrone products, the price was hefty (to say the least). Well, this year at NAB, Edelkrone unveiled their next foray into the tracking game: the Dolly Plus. Let’s take a look at what you can expect to see. Cinema5D brings us an taste of the dolly with an interview and a demo.You control the dolly using an app, which allows you to determine the path and the movement. These movements include straight, curved, circle, and . . . square? The app lets you focus on your subject, and then the dolly will track the subject along whatever path you have selected. The head on the dolly can pan and tilt, and you can focus using the app.This piece of equipment is a must-own for the hundreds of filmmakers who simply refuse to push their dolly two feet forward — so they can breathe easier since they no longer need to exhaust themselves by pushing a dolly. Edelkrone is here to give your muscles a break — while depleting your bank account. The Dolly Plus will debut this summer, so pop an ice-cold La Croix, sit back, and let the Edelkrone app make a film for you.The prices is undetermined right now, but come on . . . it’s Edelkrone.Looking for more NAB 2018 announcements? Check these out.NAB 2018 Announcement: Manfrotto Gear Sets Filmmakers FreeNAB 2018: Aputure Upgrades Their Beloved 120d LEDNAB 2018 Announcement: Meet Sigma’s 14-24mm f/2.8 Art LensNAB 2018: DJI Officially Introduces New Camera Control SystemsNAB 2018: Fujifilm’s X-H1 Camera Gets Put to the Test