Barcelona are interested in Chelsea prodigy Ruben Loftus-Cheek, according to the Daily Mirror.The midfielder, 16, is also said to have attracted interest from both Manchester clubs as he is yet to sign a contract at Stamford Bridge.Both The Guardian and Daily Mail say Chelsea manager Andre Villas-Boas’ recent comments to a Portuguese radio station did not go down well with the club’s hierarchy.Villas-Boas is said to have annoyed Chelsea officials.The Mirror and Sun both include pictures of Jose Mourinho in London, prompting speculation that the ex-Chelsea boss could return to his former club or succeed Harry Redknapp at Tottenham.The Sun believe Mourinho viewed five properties in the Knightsbridge and Mayfair areas and ate out in Chelsea.Chelsea’s contract talks with Didier Drogba have stalled after the player said he wanted an annual salary of £6m, say the Mail.Meanwhile, The Sun claim Walter Samuel’s refusal to sign a new deal with Inter Milan will spark a three-way fight for his signature between Arsenal, Spurs and Chelsea.The Argentine centre-back, 33, is out of contract this summer but it is claimed he will demand £90,000 a week in wages.His agent Barry O’Connor said: “Ideally Walter would like to come to London but he will listen to all offers.”The Sun also say Chelsea midfielder Frank Lampard has been putting in extra training sessions after being overlooked by England.Finally, The Independent pick up on a QPR website interview with club chairman Tony Fernandes, who has pledged to stay on if Rangers are relegated.Fernandes said: “I’m not going to run away. I started an airline with two planes, been through SARS, bird flu, a Tsunami, an earthquake, terrorism and airports closed for seven days.“Relegation isn’t going to scare me. It’s a long-term project and Rome wasn’t built in a day.“Along the way there will be hiccups. But when you look back in 15 and 20 years’ time, we will be proud of what we achieved.”Follow West London Sport on TwitterFind us on Facebook
Share Facebook Twitter Google + LinkedIn Pinterest Soybean market commentaryArgentina weather remains good, which could mean an increase in bean yield estimates. If this continues, global supply will be high and likely push down prices. The key will be plenty of rain through the growing season, and then dry weather during harvest. Expect volatility for the next few months, as many speculators remember last year’s events.Corn market commentaryCorn continues to trade sideways. Farmers are selling when the market rallies, but quickly stop when the market pulls back. Two billion bushels of carryout will continue to hold this market back. It seems to be another year of boring winter trading months.Looking forward, many wonder how many acres U.S. farmers will plant in 2017. Some don’t believe early surveys suggesting reduced corn acres. However, farmers I talk to say that it’s difficult to not take the guaranteed profits of beans, when corn isn’t at profitable prices right now. If this happens, corn may have some upside potential. Still it’s unclear how accurate the USDA usage estimates are for the current year. If corn acres aren’t reduced more than 2 million acres in March, the market will be facing an uphill battle.Market ActionUncertain about the market direction going into spring, and with nothing sold for 2017 new crop, I want to make my first trade. With what I know now, I expect the market to be trading sideways next fall.Trade DetailsBack on 1/23/17 – Dec ’17 corn futures were at $3.95Sold 2 – Dec 4.00 calls – collected 29 cents each (or 58 cents total)Bought 1 – Dec 3.50 put – paid 11 centsBought 1 – Dec/Dec +20 C.S.O. call – paid 5 cents (I’ll explain what this is at the bottom)Net profit: +40 cents (after paying a 2 cent commissions)All Trades Expire: Day after ThanksgivingThis trade amount = 5% of planned production so I doubled the sale to get 10% coverage on.What does this mean?Basically I have a floor price of $3.90 and a price ceiling of $4.40, but the outcome varies depending on the price of Dec corn at expiration.If Dec corn is at or below $4.20 at expiration I get somewhere between $3.90 and $4.40Every penny corn is below $4.20 to $4.00, 1 additional cent is added on to the $4.20 price (e.g. if it is $4 exactly I take home $4.40)Every penny corn is below $4.00 to $3.50, 1 cent is subtracted from $4.40 all the way down to $3.90 (if it is at $3.50)Anywhere under $3.50, and I still get $3.90 (5 cents below where the market was when I placed the trade)If Dec corn is above $4.20 – I have to make another corn sale at $4.20 (even if corn is $4.50 or $5)If this happens, I’ll most likely move this sale directly to the 2018 crop yearWhy would you move the additional sale to 2018?I don’t want to wonder all year long if I will have to increase my sales by an additional 10% sale in 2017. I will know with certainty that at worst I move an additional sale to 2018. In seven of the last 10 years, if I had to move a trade like this forward I would have received around a 40 cent profit (i.e. the 4.20 becomes a 4.60 sale) to move the additional sale to the following year. The three years it didn’t work was due to a drought (2010, 2011, 2012), which caused inverses (where nearby prices are higher than prices in the future) in the market. In 2010, there was a 20 cent inverse, while 2011 had a 40-cent inverse and 2012 had a 100-cent loss. If this happens, I will have to roll this sale to next year at those type of losses.The trade sounds great, but the 100-cent loss is too much.I agree, I can’t afford to take that big of a loss on a 4.20 sale. That’s where the Dec/Dec +20 CSO call option comes into play.A CSO option is a calendar spread option. It’s an option based upon spreads between future contracts and it is traded in the pits and not electronically. Not many people are familiar with these types of options, so they can be harder to find quotes on when the market isn’t open. CSO options can protect farmers from the inverses of 2010-2012 situation detailed above. It provides a guarantee that I will not take more than a 20-cent hit on the additional $4.20 sale that I would have to move from the Dec ’17 to Dec ’18. In other words, worst case scenario: I move my $4.20 sale to 2018 and its worth $4. This isn’t a bad spot to start pricing some corn for 2018, if it gives me the opportunity to trade at or above $4.20 in 2017 especially if the market is trading sub $4 today.As seen in the chart below this trade gives me lots of protection and great upside potential if the market is at these levels next fall.Seems like a great trade, why not do more?There is still the potential of doubling up 2018 sales at $4, which I’m willing to accept, but I don’t want to commit more than 10% right now.Trade SummaryBottom line: this is a sideways market trade play with full downside protection.Market trades sideways — biggest profit (the closer the market is to $4, the better)Market goes up — I get a premium that puts me on our farm’s breakeven points or betterMarket goes down — I have a $3.90 floor priceHorrible drought — I miss out a little on a huge price rally, but I’m protected against having to sell more grain at lower values this year.As I’ve mentioned before, I plan my grain marketing on what I think might happen based upon what I know today and historical trends. However, I still consider all possible scenarios the market could do. The market can do three things: go up, go down, or go sideways. So when making trades I need to be comfortable with all outcomes. That’s why I always balance potential premiums on each trade against the risk I’m taking if the market goes a different direction.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@example.com.
This video was first shared by Greyscalegorilla. Thanks for sharing, guys!If you want to learn more about how to create this awesome effect, check out the corresponding blog post on Greyscalegorilla’s website.Have any tips for morphing objects in Cinema 4D? Share in the comments below. Learn how to morph between two objects in this Cinema 4D video tutorial.The ability to create smooth transitions between objects really makes your animation flow more naturally. Of course, getting this effect is easier said than done.The following video tutorial was inspired by the award-winning People’s Car Project commercial that WeAreFlink made for Volkswagen. If you haven’t seen the video, check it out:Typically, when you want to morph an object, you will actually use separate objects that morph together through a combination of motion blurs, frame blending techniques, and misdirection.However, when you are trying to perform this action with slow morphing objects, it’s much more difficult because you can’t simply cover the edit points with fancy transitions. This is where the following video tutorial comes into play.This video tutorial by Greyscalegorilla offers a glimpse into how to perform this action using effects and tools that are 100% native to Cinema 4D. The tutorial covers:Using the Spherify ToolThe Pose Morph EffectCreating Metallic Textures
Malcolm Glazer, a reclusive self-made billionaire and patriarch of the family that owns the NFL’s Tampa Bay Buccaneers and the Manchester United soccer club, died on Wednesday, the teams said. He was 85.Glazer, who as a teenager sold watch parts from a suitcase before building a wide-ranging business empire, bought the Buccaneers in 1995 for a then-NFL record of $192 million. He later persevered with the purchase of Manchester United, one of England’s most-storied soccer teams in 2005, a deal that fueled controversy because of its debt-driven financing.However, Glazer was largely sidelined in recent years from both the teams’ business dealings by a series of strokes.After his purchase of the Buccaneers, he led what had traditionally been one of the weakest teams in the National Football League to its first Super Bowl championship in 2003.”A dynamic business leader, Glazer helped mold the Buccaneers into a model franchise and one respected league-wide,” the Buccaneers said in a statement on their website.His supporters credited him with spending big to hire players and a coaching staff to turn around a team in one of the NFL’s smallest markets.While the team has struggled on the field recently, Glazer’s investment has proved profitable and the business magazine Forbes estimates it is now worth more than $1 billion.His death is unlikely to lead to any ownership change, according to a statement by the Buccaneers. The family’s “long established estate succession plan” means the team “will remain with the Glazer family for generations to come,” the team said.advertisementManchester United takeoverGlazer raised his profile in 2005 with an aggressive debt-driven $1.47 billion takeover of Manchester United that was widely opposed by many of the club’s fans.Fans, under the banner “loveUnitedhateGlazer,” argued the debt built up in the deal would hurt the club and force supporters to pay higher ticket prices.Glazer went on, however, to preside over one of the most successful eras in the club’s storied history.”The thoughts of everyone at Manchester United are with the family tonight,” the team said in a statement.Under Glazer’s ownership, the team won five Premier League titles in England as well as the 2008 UEFA Champions League championship.Manchester United is widely considered one of the world’s most valuable sports teams, though it recently ended the season in 7th place in the Premier League, the club’s lowest finish in two decades.Glazer no longer had any day-to-day connection to the club and the ownership is in the hands of Glazer’s children, led by the club’s co-chairs, Avram and Joel Glazer.The family retains a 90 percent stake in the club that is split evenly among Glazer’s six children. The remaining 10 percent is listed on the New York Stock ExchangeGlazer, the fifth of seven children born to Jewish Lithuanian immigrants, turned to sports after a successful business career.As a young man, Glazer used the profits from a family watch-parts business he inherited at the age of 15 to make investments in a range of real estate ventures, including mobile homes and nursing homes, many of them in Florida during the 1970s.He first came to prominence in the 1980s when he built up stakes in two big brand names – kitchen surfaces company Formica and motorcycle maker Harley Davidson – before cashing in. He later launched a series of failed bids, including a $7.6 billion attempt to buy the bankrupt freight rail company Conrail.Glazer also founded First Allied, a holding company for the family’s business, which includes dozens of malls and shopping centers in the United States.A decade later, the Glazer family gained a controlling stake in the oil company Zapata, which was founded by former President George H.W. Bush.Forbes estimates the net worth of Glazer and his family at $4 billion.