Chalice Becomes First Music Festival To Allow On-Site Recreational Cannabis Purchases

first_imgSince 2014, the Chalice Festival has celebrated music and marijuana in Southern California. In 2018, the gathering will become the first such festival to allow recreational marijuana to be purchased on site from legal vendors. Slated to take place at the San Bernadino County Fairgrounds in Victorville, CA, from July 13th to 15th, Chalice Festival will feature performances by Bassnectar, Ludacris, Bone Thugs-N-Harmony, Sizzla Kalonji, Curren$y, Cut Chemist, Pharcyde, and Thriftworks. While past events have catered to medical marijuana users and paraphernalia aficionados, this year’s event will allow on-site marijuana consumption and purchases for adults aged 21 and older. “On-site product vendors will be on hand to take advantage of the post-prohibition reality that legally mashes up recreational cannabis products with the large-scale music festival concept,” representatives from the festival reportedly said in a press release.Of course, the event will also showcase plenty glassblowers, hash makers, and street artists—just as it has since 2014. However, another thing that will set this year’s Chalice apart is the size. While the debut event drew 5,500 people to the fest, organizers are preparing for a crowd of at least 45,000 to show up in July.Voters in California approved a marijuana legalization initiative back in November of 2016, but the legal changes didn’t go into effect until January 1st, 2018. Once that happened, festival organizers around the state became eligible to apply for permits that allow them to host events where marijuana can be legally sold, smoked, and otherwise consumed, provided those events take place in one of 80 authorized county fair or district agricultural association properties in the state (such as the San Bernadino County Fairgrounds).Chalice has always been a marijuana-centric festival, so it’s no surprise that organizers have jumped at the chance to take advantage of California’s new approach to recreational marijuana. It’s a stark contrast with other Golden State festivals like Coachella, which won’t even allow attendees to bring their legally-acquired marijuana out to the festival grounds, let alone purchase it on site. “We’re expecting fifty to sixty thousand people this year, no exaggeration,” Chalice Founder Doug Dracup told Cannabis Now. “You know this isn’t just an opportunity for me, brands are bringing their A-game to really be seen and get put on the map. There are people coming from all over the world. For us, it’s just a crazy opportunity to show everybody what a legal cannabis festival looks like.”Tickets for the 2018 Chalice Festival are now on sale. Attendees must be 21 or older to enter the festival grounds.last_img read more

Update on the latest in sports:

first_imgUpdate on the latest in sports: UNDATED (AP) — The NCAA is moving toward allowing all Division I athletes to transfer one time without sitting out a season of competition.A plan to change the waiver process is expected to be presented to the Division I Council in April. If adopted, new criteria would go into effect for the 2020-21 academic year. Currently, football, men’s and women’s basketball, men’s hockey and baseball players must sit out one season after transferring.The NCAA’s announcement comes a day after the ACC became the second Power Five conference to publicly support the so-called one-time exception for all transfers. The Big Ten announced its support last fall.COLLEGE FOOTBALL-MICHIGAN STATE-NCAASpartans reportedly looking into allegations UNDATED (AP) — There’s a new leader in the NHL’s Metropolitan Division.Sidney Crosby continued his scoring binge by furnishing a goal and three assists as the Penguins knocked off the Maple Leafs, 5-2. The outcome moves the Pens one point ahead of Washington in the Metropolitan standings.Crosby has collected seven goals and 23 points in 13 games since returning from core muscle surgery on Jan. 14. The Pens were six points off the division lead when Crosby made his comeback.Bryan Rust had a goal and two assists in Pittsburgh’s third consecutive win and sixth in eight games. Teddy Blueger’s (BLOO’-gurz) goal gave the Penguins a 5-0 lead with 7:25 left in the second period.Elsewhere on NHL ice: — The Senators whipped the Sabres, 7-4 as Craig Anderson made 23 saves in his 200th win with Ottawa. Jean-Gabriel Pageau (pa-ZHOH’) contributed two goals and two assists for the Senators, who also received a two-goal night from Artem Anisimov (ahr-TEHM’ ah-NEE’-see-mahv).NHL-NEWSBouwmeester back in St. LouisUNDATED (AP) — Blues defenseman Jay Bouwmeester (BOH’-mees-tur) is back in St. Louis after collapsing on the bench during a game in Anaheim last week.Bouwmeester issued a statement saying he’s “on the road to recovery” after going into cardiac arrest in the first period versus the Ducks. He had a cardioverter defibrillator implanted into his chest at UCI Medical Center in Orange County, California, where he had been hospitalized until returning to St. Louis on Sunday. MLB-NEWSJudge doesn’t take batting practiceUNDATED (AP) — New York Yankees slugger Aaron Judge did not hit or throw during the team’s first full squad workout Tuesday because of what the team said was a minor right shoulder issue.Yankees manager Aaron Boone said the problem is not considered serious and that Judge could start to ramp up activities in a couple days. Judge is expected to be ready for the start of the regular season.  Judge had been taking part in early workouts at the Yankees’ minor league complex and experienced some soreness in the last couple weeks. He shut down from hitting about a week ago. — The Blues ended their season-high, five-game losing streak as Ivan Barbashev scored twice in a 3-0 victory against the Devils. Jaden Schwartz furnished the other goal and Jordan Binnington made 17 saves for his seventh career shutout and second this season. The outcome gives St. Louis a two-point edge over Dallas in the Central Division.— The Flyers are in third place in the Metropolitan Division after Travis Konecny (kah-NEHK’-nee) had a goal and two assists in their 5-1 rout of the Blue Jackets. Kevin Hayes, Sean Couturier (koo-TOOR’-ee-ay), Philippe Myers and Jakub Voracek (VOHR’-ah-chek) also scored as Philadelphia made the most of its 15 shots to move one point ahead of the Islanders and Columbus in the division standings.— Andrei Svechnikov (SVEHCH’-nih-kahv) and Nino Niederreiter (NEE’-dur-eye-tur) each scored in the second period as the Hurricanes knocked off the Predators, 4-1. That puts Carolina in a virtual tie with Columbus and the Islanders for the two Eastern Conference wild-card berths. Jordan Staal scored a goal in the first, Sebastian Aho (AH’-hoh) added a third-period tally and Justin Williams had two assists.— The Jets doubled up the Kings, 6-3 behind Blake Wheeler’s two goals and one assist. Nikolaj Ehlers (NIH’-koh-ly EE’-lurz) added a goal and two assists to Winnipeg’s fifth victory in seven games, which leaves the Jets one point away from a Western Conference playoff slot.— Andreas Athanasiou (ath-a-nah-SEE’-yoo) scored twice while the Red Wings were netting three unanswered goals in the third period to rally past the Canadiens, 4-3. Athanasiou gave Detroit its first lead with 5:15 remaining before the Wings ended a four-game skid. — Miles McBride and Sean McNeil provided 11 points apiece to help No. 17 West Virginia knock off Oklahoma State, 65-47. Oscar Tshiebwe (SHEEB’-way) added eight points and 15 rebounds for the Mountaineers, who held the Cowboys to a season-low 14 second-half points. Bob Huggins earned his 879th career victory to tie North Carolina’s Dean Smith for sixth all-time among Division I coaches.NASCAR-NEWMANNewman communicating following Daytona crashDAYTONA BEACH, Fla. (AP) — NASCAR driver Ryan Newman is awake and speaking with family and doctors a day after his horrific crash on the final lap of the Daytona 500.Roush Fenway Racing released an update on its driver about 20 hours after Newman’s car slammed into the wall at nearly 200 mph, flipped, got T-boned by another car, flipped several more times and skidded to a halt in flames. Everyone watching feared the worst Monday night and had to wait nearly two hours to learn that Newman’s injuries were not considered life-threatening. Share This StoryFacebookTwitteremailPrintLinkedinRedditT25 MEN’S BASKETBALL-SCHEDULEBaylor breaks Big 12 winning streak recordUNDATED (AP) — Top-ranked Baylor has become the Big 12 record-holder for most consecutive victories with 23, breaking the mark set by Kansas 23 years ago. The mark could further motivate the Jayhawks when they visit the Bears on Saturday in a 1-versus-3 matchup. — A person familiar with the situation says three-time Pro Bowl tight end Greg Olsen has agreed to a one-year, $7 million contract with the Seattle Seahawks. Olsen was released by the Carolina Panthers earlier this month after nine seasons with the team amid a rebuilding process under first-year coach Matt Rhule (rool). Olsen has caught 718 passes for 8,444 yards and 59 touchdowns during a 13-season NFL career that began with a four-year run with the Chicago Bears.— Punter Ryan Allen and kicker Younghoe Koo are set to return to the Falcons next season. Allen and Koo each joined the Falcons midway through the 2019 season and performed well enough to earn one-year contract extensions for the 2020 season.— The Cardinals have re-signed starting left tackle D.J. Humphries to a three-year contract that keeps him with the team through the 2022 season. The 26-year-old Humphries started all 16 games at left tackle last season, anchoring an offensive line that protects franchise quarterback Kyler Murray.NHL-SCHEDULEPens whip Leafs to pass Caps EAST LANSING, Mich. (AP) — Michigan State reportedly is investigating allegations of NCAA violations made by a former football staffer in a lawsuit.Curtis Blackwell filed a lawsuit claiming his employment agreement was violated when he was disciplined while the school addressed sexual assault allegations against players in 2017. A recent filing in that case from Blackwell’s lawyer suggested that deposition testimony by then-coach Mark Dantonio may have revealed NCAA violations.Athletic director Bill Beekman said then that it was his understanding that the allegations were “patently false.” But an athletic department spokesman told The Detroit News on Tuesday that the school is looking into them.NBA-NEWSIrving out again UNDATED (AP) — Brooklyn Nets guard Kyrie Irving won’t play in their first game after the All-Star break Thursday at Philadelphia because of more trouble with his right shoulder that sidelined him earlier this season.Nets coach Kenny Atkinson told reporters Tuesday that Irving would see a specialist this week.Irving has missed 26 games during his first season in Brooklyn with an impingement. He has played in just 20 of the Nets’ 53 games.Also around the NBA:— The Pistons and Reggie Jackson have agreed on a contract buyout that allows the veteran guard to sign with another team. Jackson is in the final season of his five-year, $80 million deal he signed in 2015 with the Pistons, who acquired him earlier that year in a trade with Oklahoma City. The 29-year-old Jackson is averaging 14.9 points and 5.1 assists this season, but he has been limited to just 14 games due to a back injury. Associated Press Also in the majors:— MLB Commissioner Rob Manfred has apologized for what he called a disrespectful reference to the World Series trophy as a “piece of metal.” Even before being asked about it at the Cactus League media day, Manfred said he made a mistake with those comments when trying to deliver a rhetorical point in an interview two days earlier. Players became infuriated by his “piece of metal” comment during a lengthy interview with ESPN on Sunday, the same day he spoke in Florida.NFL-TRUMP-DEBARTOLOTrump pardons former 49ers ownerWASHINGTON (AP) — President Donald Trump has pardoned Edward DeBartolo Jr., the former San Francisco 49ers owner convicted in a gambling fraud scandal. NFL-NEWSBrees plans to be back with Saints next seasonUNDATED (AP) — Quarterback Drew Brees (breez) says he intends to play for the New Orleans Saints again next season. The 41-year-old Brees used a social media post to announce his intention to “make another run at it” in what would be his 20th NFL season.Brees is the NFL’s all-time leader with 6,867 completions, 77,416 yards passing and 547 touchdown throws. He was productive in leading the Saints to the playoffs last season despite missing five games with a throwing hand injury, completing 74.3% of his passes with 27 touchdowns and only four interceptions.In other NFL news: Jared Butler scored 22 points as the Bears downed Oklahoma, 65-54 to improve to 24-1 overall and 13-0 in the conference. Mark Vital had 10 points and Freddie Gillespie grabbed 10 rebounds for Baylor, which played a second straight game without leading scorer MaCio Teague (teeg) because of a wrist injury.The Sooners led 10-5 until the Bears went on a 23-9 spurt to take control.Kristian Doolittle had 18 points and 10 rebounds for Oklahoma.In other top-25 action:— Jalen Crutcher scored 18 points and No. 5 Dayton picked up its 15th straight victory by downing VCU, 66-61. Obi Toppin (OH’-bee TAH’-pihn) finished 12 points and Dwayne Cohill made a pair of free throws with 22.4 seconds left after the Rams closed within one point. — Jalen Smith dropped in 22 points and grabbed 19 rebounds as seventh-ranked Maryland held off Northwestern, 76-67 to take a two-game lead in the Big Ten Conference at 12-3. Anthony Cowan added 19 points for the Terrapins, who are 22-4 overall following their ninth consecutive victory.— Eighth-ranked Florida State was an 82-67 winner against Pittsburgh as freshman Patrick Williams contributed 16 points and Anthony Polite added 10 with six rebounds. Williams scored in double figures for the 10th time this season as the Seminoles improved to 14-0 at home and 22-4 overall.— Ayo Dosunmu scored 24 points and Illinois snapped a four-game losing streak with a 62-56 victory over ninth-ranked Penn State. Kofi (KOH’-fee) Cockburn added 14 points for the Fighting Illini, who led most of the way and ended the Nittany Lions’ eight-game winning streak.— Immanuel Quickley scored 21 points and No. 10 Kentucky shot 8-for-9 from 3-point range in the second half to pull out a 79-76 victory against LSU. Nick Richards scored 13 points and blocked six shots for the 21-5 Wildcats, who have won five straight and nine of 10.— Ty-Shon Alexander scored 22 points and Marcus Zegarowski added 17 in leading 15th-ranked Creighton to a 73-65 victory at No. 19 Marquette. The Bluejays have won eight of nine to move within a half-game of first-place Seton Hall in the Big East standings. February 18, 2020 The Blues put Bouwmeester on long-term injured reserve, which gives them salary-cap relief. They added blueline help by acquiring defenseman Marco Scandella from the Canadiens for a 2020 second-round pick and conditional fourth-rounder next year.Also in the NHL:— The Capitals have bolstered their blue line by acquiring veteran Brenden Dillon from the San Jose Sharks for Colorado’s 2020 second-round pick and a conditional 2021 third-rounder. Dillon has averaged just under 20 minutes a game this season and could play on the Capitals’ second pairing with Dmitry Orlov. The nine-year NHL veteran has scored 22 goals and 114 points in 588 regular-season games.COLLEGE SPORTS-TRANSFERSNCAA prepared to change transfer waiver process DeBartolo Jr. built the San Francisco 49ers’ 1980s-1990s dynasty. He was involved in one of the biggest owners’ scandals in the sport’s history. In 1998, he pleaded guilty to failing to report a felony when he paid $400,000 to former Louisiana Gov. Edwin Edwards in exchange for a riverboat gambling license.last_img read more

Non-League round-up

first_imgAnother big weekend looms for our local sides with all five engaged in matches against teams with as much to play for as they do.Nas Bashir’s Hayes & Yeading United have had a disappointing week, picking up only one point from matches against relegation rivals AFC Telford United and Lincoln City – results which have left them in the bottom four.Although only one point behind 20th placed Newport County, the Welsh side have three games in hand following their run to the FA Trophy final.Things are unlikely to get much better for the west London side on Saturday as they face a long trip to promotion chasing Southport who have only lost one of their last 10 league games, a run which began with a 2-0 win at United”s temporary Kingfield home back in January.Possibly the match of the weekend sees Hampton & Richmond Borough host rivals Sutton United in a crucial Blue Square Bet South game.Unlike Hayes, the Beavers have had a great few days winning back-to-back away matches against Weston-Super-Mare and Dover Athletic to give their chances of avoiding the drop a huge boost.Harrow boss Anderson will want his team to bounce back.Only goal difference is keeping them in the relegation zone and they still have games in hand on those immediately above them.Sutton, meanwhile, are at the other end of the table going for their second consecutive promotion after being crowned Ryman League champions last season.Their form has dipped a bit in recent weeks, meaning that going up automatically now looks beyond them but a play-off place seems certain. With this in mind, expect a decent game and a big crowd.Another side chasing promotion is Ryman League Hendon.Last Saturday they dropped a couple of points at home to struggling Carshalton Athletic which provided further evidence that their play-off campaign might be running out of steam.However, they bounced back on Tuesday night with a 1-0 win over Cray Wanderers, who they leapfrogged to get back into fifth place.Whether they hold on to it will depend greatly on how they do at Lewes on Saturday. The Rooks are snapping at the Greens’ heels and will go level on points with them if they win.When they met at Vale Farm earlier in the season they fought out an entertaining 2-2 draw and with pretty similar form coming into this one, we could see more of the same.Wealdstone are perhaps starting to show signs of a successful season catching up with them.After their run to the FA Trophy semi-finals and Middlesex Senior Cup final, the fixtures are coming thick and fast. Since Saturday they have played twice in the league and failed to win either, a sequence which has not occurred since January.They also received news that goalkeeper Jonathan North (pictured above) suffered a double-leg break in the defeat at Canvey Island on Tuesday to further hit their promotion hopes.They are currently eight points off a play-off place but with three games in hand on Hendon, it remains a mathematical possibility.A win at fourth placed Bury Town on Saturday will raise spirits no end but the hosts are unbeaten at home in the league since September and come into this match having just won the Ryman League Cup, so it appears a tough ask.Dave Anderson’s Harrow Borough went into last weekend’s fixture against Aveley knowing a win would effectively relegate their opponents while going a long way to keeping themselves in the Ryman Premier.The Essex club lost their previous match 6-0 at home to Billericay but somehow managed to raise themselves and win 3-2.With fellow strugglers Leatherhead picking up a surprise win at Cray on Sunday, it was a bad weekend all round for Boro who now sit only three points above the relegation places.On Saturday they host Canvey Island – another team who are involved in the battle for fifth place.Boro narrowly lost 1-0 to them on Non-League Day back in September and their form (two wins from five) is patchy. With Leatherhead playing Aveley on the same day, there will be little margin for error.All Premier and Football League season-ticket holders get in for half price at all our local teams’ home league games. Check their websites for details.last_img read more

SA, Germany look to energy partnership

first_img26 February 2013 South Africa and Germany last week signed a memorandum of understanding to promote cooperation on energy issues and to partner on developing sustainable energy infrastructure. The memorandum complements the declaration of intent for “South African-German cooperation in the area of energy and climate”, signed in November 2010, as well as a partnership agreement struck with four European countries and the European Investment Bank in December 2011 to help fund the South African Renewables Initiative (SARI). The former provides a strategic framework for South African-German development cooperation in the energy sector, while the latter seeks to support accelerated investment in the development of renewables in South Africa. The energy partnership envisaged in last week’s agreement aims to build on these existing agreements will providing a general framework for political dialogue and cooperation in the energy sector for both sides. According to the Department of Energy, the partnership will focus on promoting renewable energies and energy efficiency, new carbon market instruments for financing investments in renewable energies and energy efficiency, and opportunities for cooperation in nuclear safety and security. Under the partnership, the South African and German governments aim to strengthen their cooperation on capacity building, institutional arrangements, public awareness- raising, and staff training and exchanges. They will also encourage German and South African companies to cooperate in exploring business opportunities in the field of renewable energy. The department said both governments had taken note of recent advances in renewable energy technologies, the available renewable resources in South Africa, and the consequent opportunities for their widespread application. They also recognized the need to foster environments that would enable increasing private sector involvement and stronger public-private partnerships in the field of renewable energy. and SAinfo reporterlast_img read more

Young minds caring for the homeless

first_imgYRobert Mtshali’s Young Minds Care and Phumlani Makhaye’s Master P Social Investments are gearing up to spread some cheer this Easter, delivering food and clothing to Joburg’s homeless as temperatures drop “When I was in high school I had to pass on a lot of things because of my financial situation; I’d say that had the biggest role to play in me getting to where I am now; that, and all the people who helped me get here,” says Robert Mtshali, founder of the Young Minds Group and a firm believer in the values of Ubuntu.In 2009, when he was 19 years old, Mtshali registered his business, then called Young Minds Cleaning Services.“My passion for helping people has always been there; it’s just that before I didn’t have the influence to do so but now I can and I am,” Mtshali explains, adding “I want to be as influential as my role model, Jay Z.”He adds; “Most of the things that I do, the initiatives that I do or take part in, relate to my personal experiences or those of someone close to me, like my colleagues and friends.”GOING TO THE MATRIC DANCEIn mid-2013 Mtshali and Young Minds Care (YMC), his company’s welfare arm, started Fabricated, the company’s first initiative aimed at benefitting the underprivileged.Fabricated identified six high school pupils – three boys and three girls – from Eastbank High School in Alexandra, who had performed admirably during their first semester and who couldn’t afford to go to their matric dance.Young Minds Care supplied the students with clothing, and funds for grooming and entrance fees to their dance as a reward for their hard work at school.“I also didn’t go to my matric dance due to financial constraints at the time and I really wanted to go but I couldn’t, and that hit me really hard, so I thought I would try my level best to help a few people who were in a similar situation,” says Mtshali.CHRISTMAS CHEERIn 2013 Mtshali and his colleagues wanted to do something different for Christmas, “so we decided to spend the day with people who weren’t as fortunate as we were and bring a few things with us to brighten up their festive season”.Shortly after Mtshali and his company joined forces with Phumlani Makhaye of Master P Social Investments to hold Homeless Xmas, spending Christmas Day delivering food and clothing to some 60 homeless people living under the Nelson Mandela Bridge in Braamfontein, Johannesburg.Master P Social Investments encourages young people to share their successes by giving back to their communities.SHARING THIS EASTER“When we held our Christmas event we noticed there were more people than we expected and later found out there were just under 200 homeless people living under a bridge in Newtown so we thought it would be good for us to do something this Easter for them,” says Mtshali.This year YMC and Master P Social Investments are planning a Homeless Easter Drive on 19 April, distributing food and clothing to a group of people living under the M1 bridge over Newtown; the organisations invite Joburgers who want to help out to join them on the day at 8am.The organisations need donations of food and clothing to distribute on the day and are also trying to organise medical screenings for children in the group.“We are also trying to help these people get their documentation sorted out because we’ve noticed that a lot of them don’t have IDs or birth certificates,” Mtshali says. “This makes finding a job and proving they have dependants for social grants even harder for them.“For the little kids, we’re trying as much as we can to at least get them into schools so that they can get an education and hopefully break the chain of poverty.”PLAY YOUR PARTTo donate food and clothing to YMC and Master P Social Investment’s Easter drive, visit The Branson Centre in Braamfontein, the Mark Kidds Photographic Studio at Maponya Mall and Gordon Ridge Complex in Florida Glen.“Let’s carry the legacy of Nelson Mandela and let’s do what he believed in most, which is helping each other and loving one another regardless who the other may be,” says Mtshali.“Let’s do good and have fun at the same time.”To find out more about the event, or Young Minds Group and Master P Social Investments, email Robert Mtshali at [email protected] or call him on +27 (0) 84 811 6916, or email Phumlani Makhaye at [email protected] or call him on +27 (0) 78 792 6657.last_img read more

Marathon to honour Mandela’s legacy

first_imgMandela Day Marathon ambassadors Bongumusa Mthembu, winner of the 2014 Comrades Marathon, and nine-time Comrades winner Bruce Fordyce (images: Nelson Mandela Foundation)The Mandela Day Marathon, covering 42.2 kilometres from Pietermaritzburg’s Imbali township, where Nelson Mandela made his last speech as a free man, to Howick, where he was finally captured, gives South Africans an opportunity to honour the great man’s legacy through sport, the organisers said on Wednesday.“Each marathon has a personality, and ours is unique,” uMgungundlovu District Municipality Mayor Yusuf Bhamjee said at the official launch of the 2014 marathon at the Nelson Mandel Foundation in Johannesburg on Wednesday.“We have a race dedicated to the father of the nation, and via the AIMS-sanctioned Mandela Day Marathon, a world-class sporting event, we are championing understanding among all South Africans of where we come from and what Mr Mandela stood for.”The marathon takes place on Sunday, 31 August, with supporting events over the weekend including a children’s race, a 4.6664km run (commemorating Mandela’s prison number, 46664), a 10km road run, a 21.1km road run, and a 21km and 42km mountain bike dash and trail run.The total prize purse for the marathon is valued at R1.3-million. The overall male and female winners will each receive R50 000, while the first South African and first KwaZulu-Natalian home will also be rewarded.Twenty percent of all entry fees will accrue to the Nelson Mandela Foundation, to be donated to charities and institutions in KwaZulu-Natal that serve disadvantaged communities.Bongumusa Mthembu, the 2014 winner of the Comrades Marathon, will join veteran long-distance running stars Bruce Fordyce and Willie Mtolo and a number of radio personalities who have been chosen as ambassadors for the race.Race director Johan van Staden urged members of the public to enter the event as soon as possible, as entries will be capped at 10 000, and the closing date is 31 July.“We are thrilled that South Africa’s pro running clubs have pledged their top athletes to take part in the marathon,” Van Staden added. “We anticipate over 50 pro runners will take part.”For more information, and to enter, visit read more

Capitalizing on the basis

first_imgShare Facebook Twitter Google + LinkedIn Pinterest There is a lot of unsold corn in farmers hands. Some estimates indicate only 40% to 45% of the 2016 crop is sold. With 16% carryout, there is plenty of supply available for the remaining seven marketing months. End users aren’t desperate for corn.Despite the abundant corn supply I think corn futures have upside potential long-term. This may be caused by funds buying commodities as a hedge against inflation, reduced 2017 corn acres or a summer drought scare. If this happens, I would expect basis values to drift lower.BasisDue to heavy supply, basis has been disappointing lately, running lower than normal for this time frame.Beans 40 to 50 cents below normalWheat 40 to 50 cents below normalCorn 20 cents below normal.In some ways the corn market is acting similar to 20 years ago. Ultimately basis fell apart as futures increased back then. It’s unclear if basis traders or farmers with HTAs will get burned in the same way this year.Following are some uncertainties that may impact basis in the short-term and long-term.Mexico exports — The future of corn exports to Mexico, NAFTA and Trump are uncertain. While probably a long shot, if exports to Mexico are shutdown it would create not only a logistical nightmare for corn and basis levels.Japan exports — China is trying to reduce their corn supply by selling to Japan, a traditional U.S. corn buyer. This may reduce export demand from the U.S. but not change world stocks.Normal South American harvest — South American harvests will likely be normal. This may hurt U.S. export demand and cause basis levels to drop at shuttle loading facilitiesFeed demand — Feed demand may decrease due to warmer spring weather and/or wheat is being used more and more in feed rations.Ethanol — Reduced ethanol profits may cause plant slowdowns and decrease basis in certain areas.In an effort to reduce potential basis risk for my farm, I set basis for much of my stored corn.10% — 2015 production stored through winter for March farm pick up: -.44 March futures50% — 2016 production July farm pick up: -.46 July FuturesWatching basis for the last three months, this was:10 cents below the best bid I could have received for this year.7 cents below basis the first week of harvest5 cents above the lowest bid I saw the fourth week of harvest. So you missed out on 10 cents potentially?Yes and no. By waiting until now, I collected 10 cents in market carry rolling Dec futures to Mar. So, this offset the missed opportunity I could have received if I knew at the time basis was at its highest right before harvest (which no one knew and is usually not the case).In most years waiting until well after harvest is complete and even into the spring to set basis is more profitable. While I use trends to help make decisions in my marketing plan on likely outcomes, sometimes the less likely result occurs.In the end, I didn’t quite cover my yearly bin payment with basis and market carry premium. However, I have more than made up for it in previous years, so overall I’m ahead. Why the 2015 production?I had enough home storage last year, so I held some corn hoping for better basis this spring compared to last July. Unfortunately, March basis was 12 cents lower than last summer, but I picked up 30 cents of market carry for holding my corn until now, or a net 18-cent premium. Since I can blend grain as I fill and unload bins, the loss in shrink was minimal — less than 2 cents. Why sell most of your corn in July if basis was 2 cents lower than March?I always need to core a little corn in late winter to keep the crop in good condition through summer. Also, the market is paying 14 cents of market carry to hold my grain until summer. So, while I lost 2 cents in basis, I net 12 cents for the trade. This is another illustration why farmers need to consider basis and market carry separately in the marketing strategy. In doing so, it allows farmer to take advantage of all potential premiums and opportunities available in the market. I can’t hold grain because of cash flow issues.Many farmers use this excuse for not having on-farm storage or not taking advantage of market carry premiums. This is an easy fix by having a conversation with the banker. I’ve worked with many bankers to adjust farmers’ pay down loans from spring pay offs to later months if it’s clear there is premium available for doing so.For instance in my example above, waiting to get paid in July verses March means waiting four months to pay off an operating loan. Let’s assume 5% interest with cash corn values at $3.30. This means it costs 1.375 cents per month to not pay off the operating note (or 5.5 cents to wait four months). After considering basis and market carry premium at 12 cents, I will make 6.5 cents after loan expenses.Once a farmer shows a banker they have the grain prices set with a hedge and the market is paying both of you to wait, they are on board. This is a very safe loan and bankers love safe loans. In the end, everybody wins. Seems like a lot of work for 6.5 cents.I’m glad a lot of farmers think that way because 6.5 cents on 175 bushel per acre is over $11 per acre profit. What if basis goes back up?It is possible I “pulled the trigger” on the corn basis too early. That’s why I only set basis on 60% of my grain. By doing this I reduced substantial risk in the basis while still allowing for some upside potential (maybe 5 to 10 cents) if basis rallies in upcoming months. If corn futures go up in the long-term (which I think it will) this will likely put downward pressure on basis lower and lower. Current PositionsWhile only half of my basis is currently set for 2016, I’m getting closer to knowing my final positions for the year.  POSITION – CORN201620172018Corn Sold with futures85%10%5-15%CBOT Price Average$3.94$4.00$4.00Market Carry$0.23$.24 est$.24 estBasis on Farm$-0.46 est$-.30 est$-.30 estOptions & spread profits$0.23 estCash Price$3.94 est$3.94 est$3.94 est 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]last_img read more

I hope you packed your paddle. — Amsterdam Urban 2 – Under the Bridge (GC921) — Geocache of the Week Video Edition

first_img SharePrint RelatedLove is in the air. And locked to a gate. — Love Lock Eeuwige Liefde !?! (GC41QJY) — Geocache of the WeekFebruary 12, 2014In “Community”Parent Insider Tips: Getting Your Kids Outside with GeocachingAugust 25, 2014In “Community”We’ve Got Urban Geocaching on Lock — QuadLockLog (GC330KJ) — Geocache of the WeekAugust 7, 2013In “Community” [vsw id=”cYfquPnJrY4″ source=”youtube” width=”853″ height=”480″ autoplay=”no”]Geocache Name:Amsterdam Urban 2 – Under the bridgeDifficulty/Terrain Rating:1.5/4.5Why this is the Geocache of the Week:One of the best ways to see Amsterdam is by boat. You can take in the sights on the many canals that flow throughout the beautiful city. Of course, if you can pick up a geocache (or two or three) along the way, that’s a bonus! This geocache is one of the oldest in the Netherlands and a favorite of locals and tourists. At one point it was also a favorite of local pigeons, but thanks to a clever anti-pigeon system, that’s no longer an issue. Earlier this year, Geocaching HQ’s videographer, Reid (reidsomething), and a Geocaching HQ Volunteer Coordinator, Kerb (KerbL), teamed up with two locals to find this geocache. If you don’t think you’ll be able to make it to Amsterdam soon, just kick back, watch the video (spoiler alert!) and enjoy the ride.# of Finds:909# of Favorite Points:239What geocachers are saying:“Thanks for an amazing cache – definitely a Fave cache for the fun we had finding it. TFTC” – scrap happy annie“Best cache in Amsterdam! We had so much fun to go trough the canals and search this cache!” – Team eeH“Very pleased to find this cache! We’ve used it to start the journey of our first trackable. Very good cache and well hidden.” – Triage76Read More LogsPhotos:Beautiful views along the way. Photo by geocacher LollipopDZ My geosenses are tingling… Photo by geocacher lady pinguinSee All Photos Found it! Photo by geocachers Team Doruscenter_img Continue to explore some of the most engaging geocaches around the globe. Check out all the Geocaches of the Week on the Geocaching blog.If you would like to nominate a Geocache of the Week, leave a comment below with the name of the geocache, the GC code, and why you think we should feature it.Share with your Friends:More Geocaching is an awesome way to explore new places. What has been your greatest discovery while geocaching? Tell us in the comments.last_img read more

Nuggets clinch Northwest with win over Trail Blazers

first_imgMichigan State, Texas Tech get ready for a Final Four grind Hontiveros presses for security audit of national power grid Private companies step in to help SEA Games hosting After four years of building the team, Malone and Connelly could finally celebrate a division title for the Nuggets.Nikola Jokic scored 10 of his 22 points in the fourth quarter, Paul Millsap finished with 25 points, and Denver clinched the Northwest Division title with a 119-110 win over the Portland Trail Blazers on Friday night.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logisticsJokic added 13 rebounds and nine assists to lead the Nuggets to their first division title in six years. Jamal Murray scored 23 points and Torrey Craig had 18 points and seven rebounds off the bench for Denver.“That is a great achievement for us,” Malone said of clinching the division. “More important, we’re not satisfied. We’ve got three more games to go and the playoffs.” Craig’s teammates were quick to praise him after his performance, but when Murray was asked how tough Craig was to play against in practice, he couldn’t resist getting a jab in.“He don’t guard me,” Murray said. “He can’t guard me.”HEAVEN HELP USDenver was 2 of 10 from long range in the first half and finished the game hitting 25.9 percent from 3-point range.“We just can’t make shots right now,” Jokic said. “Twenty percent. We need help, maybe God. At least 30 percent.”UP NEXTThe teams meet again in Portland on Sunday night.Sports Related Videospowered by AdSparcRead Next Panelo: Duterte ‘angry’ with SEA Games hosting hassles Duterte wants probe of SEA Games mess LATEST STORIES Denver Nuggets guard Gary Harris, center, goes for a shot after running into Portland Trail Blazers guard Damian Lillard, left, as forward Maurice Harkless watches during the first half of an NBA basketball game Friday, April 5, 2019, in Denver. Harris was called for charging. (AP Photo/David Zalubowski)DENVER — Michael Malone stopped when he saw Tim Connelly standing nearby and gave his boss a bear hug. Connelly returned the hug and congratulated his head coach.“That was awesome,” the Nuggets’ president of basketball operations said.ADVERTISEMENT Don’t miss out on the latest news and information. Cayetano: Senate, Drilon to be blamed for SEA Games mess Philippine Arena Interchange inaugurated SEA Games hosting troubles anger Duterte DA eyes importing ‘galunggong’ anew MOST READ PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss The Nuggets are assured of at least the No. 3 seed in the Western Conference and can clinch the second seed with two more wins. They lead Houston by 1½ games and have played one fewer game than the Rockets.Denver clinched its first Northwest Division title since 2012-13, when it won 40 of its final 50 games to finish 57-25. The Nuggets were upset by Golden State in the first round and parted ways with coach George Karl.Denver missed out on the playoffs by a game the last two seasons and now have a chance to secure the No. 2 seed for the first time since 2008-09. The Nuggets would need to win their last three games and have Golden State lose its final three to be the No. 1 seed.The players and coaches weren’t worried about catching the Warriors. They were enjoying the win and the climb from playoff purgatory to a budding title contender.“We know what we’re capable of,” Murray said. “We have a lot of learning to do, but we’re on a great path. It’s the first time in the playoffs, but we’ve got a lot more of these coming.”ADVERTISEMENT View comments The Trail Blazers lost to Denver for the third time after faltering in the fourth quarter. Portland scored 37 points in the third, but managed just 23 in the fourth.Enes Kanter had 24 points and Rodney Hood 17 for the Trail Blazers. Damian Lillard scored 12 of his 14 points after halftime.“The first three quarters, we played pretty good. The last quarter, they got it going a little bit,” Kanter said. “We just need to learn to finish that fourth quarter.“I believe in this team. I think this team is a championship team. … I think this team has enough talent to beat any team on any floor. We just need to stay together and go from here.”Portland led by three entering the fourth quarter, but Jokic set the tone in the fourth with seven quick points and fed Craig for a layup during an 18-6 run that gave Denver the lead for good. The Trail Blazers got within three on Kanter’s short jumper, but Murray hit a runner and Craig scored off of an offensive rebound to make it 114-107 with 1:12 left.“It was time for our best player to carry us,” Malone said. “Nikola is a big-game player and when we needed him most he came through.”TIP-INSTrail Blazers: G Seth Curry was ruled out before the game with left leg soreness. … Portland is 8-2 without CJ McCollum and 4-2 without Jusuf Nurkic. … Jake Layman’s three 3-pointers were two short of his career best. … Lillard’s first points came on a layup with 0.8 seconds left in the first half.Nuggets: The 33 home wins are the most since 2012-13 when they set a franchise record with 38. … Jokic now has 55 double-doubles this season. He has 12 triple-doubles, second to Russell Westbrook with 31.NOT SO FASTlast_img read more