Overcoming the fear of margin calls

first_imgShare Facebook Twitter Google + LinkedIn Pinterest It’s pollination week in much of the Corn Belt. In general, the weather is supportive with warm weather and adequate moisture levels. Now the focus turns to estimating the yields across the Midwest.Interestingly Kansas and South Dakota planted the same amount of acres to corn as Indiana and Ohio according to USDA forecasts. Usually Kansas and South Dakota only have state wide yields of 135 while Indiana and Ohio experience 175.Minnesota plants about 80% of the corn acres as Indiana and Ohio combined and some of the best corn in the Midwest is in Minnesota. Currently, it’s anybody’s guess as to how bad the east will be this year, but reports from the west are very encouraging.All the negative news about Illinois could be offset by potential record setting yields in Iowa where they plant 10% more acres to corn than Illinois. Nebraska is the third largest producer of corn and it might be about the only state that will be near “normal” this year.For all the concern about Missouri and to some extent Michigan, North Dakota and Wisconsin produce approximately the same amount of corn and they are having great growing conditions this year. These four states are the ninth to 12th biggest corn states and likely will continue to be in that range again this year.This certainly doesn’t guarantee that the national average for yield will remain above 166 as the USDA has estimated to this point. The corn market has a premium built into the market currently. If yields were to remain above 164 that would likely push prices below $4 again. If yields are in the 162- to 163-neighborhood then corn is justified to trade where it is currently. A drop to 160 or 161 will likely push corn futures to the high $4s and we might even see $5 per bushel again. Below 160 and the sky is the limit for futures. Fear of using the futures marketI’ve previously explained the benefits of trading futures. Today, I’ll explain the “dreaded” margin call.As a true hedger, I don’t like calling it a margin call, because that term is most often associated with speculators. A speculator making a margin call is in a bad financial situation. I’m not a speculator, I’m a hedger, and a hedger making a “margin call” is more accurately just making a finance decision. It’s not a bad thing. Let me explain further.Margin calls for hedgers are typically a net neutral (neither a gain or loss).When using the futures market to hedge grain, it doesn’t really matter if I have to make a margin call. For example: I choose to make a sell when Dec futures are $4 per bushel in June. In August, corn rallies from a weather scare and Dec corn increases to $6 per bushel. Margin call means I have to have the difference between what I have my grain sold for in futures and the current CBOT futures price. So, I will need to make a $2 per bushel margin call to my futures trading account.This part frightens farmers. That’s a lot of money. But, there is no reason to be worried, because I’m not losing that money. I harvest my grain in October and I could take the grain immediately to the local elevator, assuming the market is still the same (it doesn’t actually matter what price it is, for simplicity sake I’m leaving it the same) in October as it was in August, I could sell it for $6 per bushel. Then immediately I turn around and BUY my futures back at $6. I receive $6 per bushel on the corn delivered to the elevator. This leaves me net neutralWhen I combine my hedge account and the check for the physical grain, I lose $2 per bushel in my futures account but I still sold the corn for $6. This is where I net out $4 per bushel, which is where I originally made my sale. At the time I sold in June I thought I was making a good sale. This is the point where I get back all of my margin call money. But I don’t have cash just lying around to make margin call payments. This sounds bad.Most farmers don’t have a bunch of cash sitting around. Farmers hedging grain need to work with their bankers. For my clients, I have worked with their bankers first to set up a path for margin calls as a part of a hedging position. This is a very low risk loan for bankers, so they are usually extremely supportive.In the above example I sold futures in June and delivered at harvest (four months). If the rally didn’t start until August, it would mean a $2 per bushel loan for three months (August to October). With a typical interest rate of 5% on an operating loan, this means only 2.5 cents per bushel interest for the margin call for those three months (math = $2 x 5% / 12 months for a monthly rate x 3 months). Why would I even do this then? I could have just sold grain to my elevator and not worried about margin call.If corn rallies due to a major drought, you can’t take advantage of basis levels and other premium opportunities unless you use futures contracts or Hedge To Arrive contracts (or HTA’s). For instance, in 2012 (a drought year), I received 80 cents per bushel more for my corn that I sold using futures than farmers who sold corn flat price to an end user the same day as me and took the cash price quoted. Why not use an HTA and let someone else make my margin call?I prefer to carry my own hedge because the cost of an HTA is approximately the same price as I will have in my futures brokerage and the interest on any margin call. This allows me the benefit of being able to find the end user who may be paying more for corn at or after harvest. It’s not uncommon to see end users have 10 to 20 cent pushes in their bid. I want to be able to take advantage of this premium in the market. I can’t guarantee where the best bid will be three months in advance so locking my grain up with and end user now isn’t something I want to do.Another benefit – if farmers are unable to produce corn (e.g. due to weather), it’s easier to get out of futures sales than asking end users to be let out of contracts, be it cash trades or HTA’s. Myth – Making a margin call is badMany farmers may be shocked by this, but making a margin call is a GOOD thing. Here’s why.Typically I don’t price all of my corn at any given time, and I doubt most farmers do either. I usually hold some back for potential market rallies. As described above, I have to pay margin call on my priced/sold grain with every rally. But, this means the corn I haven’t priced/sold yet is now worth more. All future unsold grain is now worth more. Since I plan to farm well into the future, I have more corn to sell, maybe not this year, but next year I will.Margin call means corn you haven’t priced/sold is worth more. Embrace it. I’m too scared of the margin call.Margin call scares most farmers the first year of futures trading. This is why I highly recommend using a marketing advisor to walk farmers through it. I always make sure that my banker understands exactly what I’m doing and what my potential borrowing needs could be.Many of my clients have expressed reservations and fear that first year when they have to cut a $5,000 to $10,000 check several weeks in a row (despite knowing they will eventually get it back). For example, a farmer raises 600 corn acres at 150 bushels per acre and hedges 50% by June 1. Say they have a $2 margin call — it could be upwards of a $90,000 margin call. That’s a lot of money. However, this farmer will be getting that money back later AND they’ll also have an opportunity at improved basis levels that their neighbor who didn’t use futures. Typically after the first year my clients wonder why they didn’t start using futures sooner.Don’t let your fear of margin calls keep you from using the biggest marketing tool there is to hedge your grain and take advantage of market opportunities. Savvy farmers understand it and use the tools that are available to increase profits and minimize risk.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

New members of Young Ag Professionals state committee announced

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Ohio Farm Bureau Federation has named the newest members of its Young Agricultural Professionals State Committee: Dustin and Casey Converse of Richwood, Elizabeth Long of London, Brandi and Wes Montgomery of Washington Court House and Lauren Schwab of Somerville.As committee members serving two-year terms, they will help develop and conduct activities that provide opportunities for young professionals to become involved in Ohio Farm Bureau programs.Dustin and Casey Converse are Union County Farm Bureau members with Dustin currently serving as a county board trustee and previously as vice president and animal issues chair. He also participated in the Young Ag Professionals trip to Washington, D.C. He is a crop insurance adjuster for ProAg Crop Insurance as well as a dealer with LG Seeds. The couple have a beef cattle and small grain operation and bale hay and straw. Casey owns and operates the Cassandra Converse Agency with American Family Insurance. She is a 2011 graduate of Ohio State University with a bachelor’s degree in business administration and a specialization in risk management and insurance.Long was the 2015 winner of Ohio Farm Bureau’s Discussion Meet and advanced to the Sweet 16 in American Farm Bureau’s national competition. She is a Madison County Farm Bureau member where she serves as the communications action team leader. She also is a graduate of Ohio Farm Bureau’s AgriPOWER program and has an American FFA degree. Long helps out on her family’s small cattle and grain farm. She graduated from Ohio State University with a bachelor’s degree in animal science and is an agriculture loan officer with PNC.Wes and Brandi Montgomery are Fayette County Farm Bureau members with Brandi currently serving as vice president and previously as secretary and organization chair. She also competed in Ohio Farm Bureau’s Discussion Meet contest and was on the county Farm Bureau’s Farm to Fork Committee. She is an office assistant with Weade Law Office and a graduate of Wilmington College with a bachelor’s degree in agriculture and concentration in agronomy. Wes, who formerly served as county president, works on the family’s row crop farm with his grandfather, father and brother.Schwab is a Butler County Farm Bureau board trustee, Food & Animal Issues Action team member and was on its Issue 2 committee. She attended American Farm Bureau Women’s Communications Boot camp in Washington, D.C. in 2008. She works on the family’s sow-breed-to-wean swine farm. She also is a freelance writer for agricultural publications and works with the National Pork Board’s #RealPigFarming campaign to educate consumers. In 2015 she was a finalist in the National Pork Board’s America’s Pig Farmer of the Year. She is a graduate of Miami University with a bachelor’s degree in journalism and women’s studies and a master’s in family studies.last_img read more

Business Loan? Budding Entrepreneurs Raise Their Chances

first_imgRelated Posts Emma Salvador Trends Driving the Loyalty Marketing Industry Emma Salvador, a masters in computer science has a knack for computer technologies. She has over 15 years of experience in systems security and IoT. Reasons to Outsource General Counsel Services f… How OKR’s Completely Transformed Our Culture Business credit is the grease that keeps the wheels of a business enterprise moving. The fact that business enterprises rely on business loans from time to time is an obvious statement. Regardless of the scale or the diversity of a business — budding entrepreneurs running from pillar to post in search of seed capital or liquidity injection for their business enterprises are a common sight in business circles.Challenges in Getting a Business Loan ApprovedWhile getting a business loan application approved by a banker, angel investor, or a private equity (PE) fund has always been a tall order. It has become even more complicated in the last two decades in the aftermath of global economic crises. There has been the subprime crisis (2008), the Eurozone crisis (2011) and the lessons learned from the cases of fiscal profligacy in the PIIGS (Portugal, Iceland, Italy, Greece, and Spain).Banks, private equity investors, angel investors, and lending institutions for business across the world have become even more cautious about approving loan applications due to a vast number of reasons.Some of the significant macroeconomic challenges that have an impact on the non-approval of business loan applications are as follows:Stringent guidelines by regulatory agencies and federal banksImpact of non-performing assets (NPAs) on balance sheets of banks due to bad business loansAbsence of a strong value proposition to be offered through the businessLack of a clear definition of the purpose of the business loanAbsence of well-documented history on the corporate behavior of the firmAbsence of demonstrated history of credit and payback by the firmA weak revenue model to support the payback of the creditLack of the scope to build scale into the business model for expansionHow to Raise the Chances of Getting the Business Loan Application ApprovedDefine the Purpose of the Business Credit First, define the core purpose of seeking business credit. It is of paramount importance that you, as an entrepreneur, be clear about the goals that you aim to achieve through the business credit that you are seeking.Do you want a working capital injection for your business to pay off salaries and wages?Do you want a loan to pay off existing debt?Do you want a business credit to expand your business?Do you want a line of credit to reach out to new geographiesDo you want to diversify your businessDo you want to embark on a capacity expansion through the establishment of new production units?Be very clear about the source of your journey and where do you want to end up?Decide on the Capital Injection- Debt or EquitySecond, as an entrepreneur, explore the multiple modes of business credit that are in place these days.You do not always have to lean towards a bank to seek a capital injection for your business.There are other options of private equity (PE) fundsAngel investors who are also sometimes referred to as venture capitalists (VCs)Microfinance institutions (MFIs).You also have the option to explore capital injections through equity crowdfunding. Banks offer the traditional debt route, PEs and VCs offer an equity route. On the other hand equity crowdfunding is a mechanism that allows your business to lean on broad groups of investors that fund micro, small and medium enterprises in lieu of payback, profit or revenue sharing of sweat equity.Update your Tax RecordsThird, do not forget to be a socially responsible corporate citizen. At the grassroots level, this translates to compliance with regulation and governance norms as per the local laws. Tax compliance is one of the essential factors for micro, small, and medium businesses.Bankers, PEs, VCs, and even crowdfunding platforms pay a great deal of attention to the details of the tax burden on your business and are particularly keen to study your tax records.Check for outstanding tax burdens and liabilities and consider a clean tax statement to be a testimony to subsistence level checks before proceeding forward with further processing of your business loan application or liquidity injection that you are seeking.Assess the Financial Risk Factor ObjectivelyFourth, be sure of the financial risk that your business is capable of taking upon itself. Ask yourself where and how to draw the line? There is no substitute to sound financial risk management.How much of financial risk is considered to be conservative, and how should you recognize the red flags?Work on your financial risk modeling. Your risk modeling should ideally include the expected return on investment (RoI), the payback period of your business, and the net present value (NPV) of the assets of the firm.Further, work with an experienced financial risk analyst to assess the unforeseen risk factors that may delay the returns from your project.In short, as an entrepreneur, you should be aware of the farthest that you can stretch with the financial risk involved with the capital injection.Define the degree of affordable risk (DAR) to yourself first, and you should be in an excellent position to explain it to the bankers and creditors.3Cs Matter: Character, Capability, and CredibilityRemember, bank managers and creditors, watch out for three things here:Character–The character here may refer to the value creation potential of the business seeking a capital injection.Capability–Capability here refers to the projected risk-returns trade-off faced by the business.Credibility– credibility refers to a combination of things, including brand value, the market capitalization of the firm, or the total valuation of the assets in possession of the firm.Safeguard Your Intellectual Property RightsOne last thing before you pitch your application before a banker, PE firm, or angel investor. Your intellectual property rights are especially applicable to product based and concept selling businesses. If you are into a company that uses technology, data, or digital assets in any way.It makes enormous good sense to think of your core competence and operational risks in terms of the VRIO model.VRIO here refers to:value (V)rareness (R)non-imitability (I)organizational fit (O).When you safeguard your intellectual property rights like trademarks, copyrights, and patents you have a very potent weapon to beat the competition in the market and create a solid basis for product differentiation and thus, a unique selling point for customers to lean on.Having a unique selling point transforms the very nature of your business loan application. It gives you a legal safeguard, a USP to talk about and finally a perfect core competence to draw the attention of PEs and VCs and win their trust.ConclusionWhile this is a list of general guidelines for entrepreneurs seeking a capital injection for their business, more layers and sub-layers of analysis may be added to make your business loan application even better and precise.One parting shot for entrepreneurs here is to focus not just on justifying why their business deserves a loan or an equity investment but to focus on how a small capital injection can multiply the value creation many times more and benefit investors, clients and employees through a profitable, predictable, sustainable and de-risked business model. Tags:#Business Funding#Capital#Crowd Funding#Entrepreneurs#Finance China and America want the AI Prize Title: Who …last_img read more

Kings of the NCAA

first_imgKammuri turning to super typhoon less likely but possible — Pagasa Brace for potentially devastating typhoon approaching PH – NDRRMC “They (Lyceum) really made us earn it (this championship),” said Bolick, who had 18 points, five rebounds and six assists in the title-clincher.“This is the finals and if we only we can have two champions, I would be glad to give it to them too.”Coming out strong in the second half of the season after struggling with a knee injury, Tankoua was named finals Most Valuable Player after tallying 22 points and 18.5 rebounds in the two games.The game was hanging in the balance heading into the final two minutes, but just like in Game 1, Bolick took charge with a lay-up and a big triple that sewed up the win, 89-82, with 50 seconds remaining, after Mike Nzeusseu put the Pirates within, 82-83, with a three point play.“I always visualize that it will always be close games,” said Bolick. “I was comfortable making that three because I’ve been practicing hard for it.”ADVERTISEMENT PH cagers reinforce Southeast Asian clubs in regional tourney Typhoon Kammuri accelerates, gains strength en route to PH Davon Potts contributed 15 points anew with three triples, while Javee Mocon and AC Soberano had 14 and 11 points, respectively for the Lions, who outscored the Pirates, 27-16, in the final quarter.Reigning MVP CJ Perez finished with 22 points, but he was held scoreless in the final period as the Pirates lacked the finishing kick that became a hallmark of their elimination round sweep.“Well, again, this championship will not be a reality if not for my players,” said Fernandez.“They deserve to win this championship, they worked hard for it, they sacrificed. We knew in the course of our season, people doubted us, but the circle of this team never doubted each other. At the end of the year, the important one is the championship.”Earlier, Mapua sent the juniors championship series into a deciding Game 3 after whipping La Salle Green Hills, 91-81.The winner-take-all clash is set on Tuesday at 1 p.m., also at the Big Dome. Kris Aquino ‘pretty chill about becoming irrelevant’ Photo by Tristan Tamayo/INQUIRER.netFar from perfect for most of the season, San Beda College saved its finest performances for the games that mattered most in NCAA Season 93 men’s basketball.Turning the championship series into a showcase of their grit, poise and composure, the mighty Red Lions completed a sweep of erstwhile league-leading Lyceum with an emphatic 92-82 victory on Thursday night before a huge Smart Araneta Coliseum crowd.ADVERTISEMENT CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA Stronger peso trims PH debt value to P7.9 trillion MOST READ Trump talks impeachment while meeting NCAA athletes PLAY LIST 01:07Trump talks impeachment while meeting NCAA athletes02:12San Beda, Lyceum early favorites ahead of NCAA Season 9300:50Trending Articles01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Don’t miss out on the latest news and information. Japan ex-PM Nakasone who boosted ties with US dies at 101 Read Next QC cops nab robbery gang leader, cohort LATEST STORIES Robert Bolick proved unstoppable down the stretch, Donald Tankoua was a force inside the paint all series long, and returning coach Boyet Fernandez seemed to press all the right buttons under pressure as the Lions came out victorious in one of their most challenging seasons since their dynasty started 12 years ago.For the past four months, the Lions played in the shadows of the Pirates, the upstarts from Intramuros who blitzed their way to 18 straight wins en route to a historic finals appearance.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutThe Pirates did offer a stiff resistance in the finals, keeping the game close until the final minutes of the two games, but this was a stage that always brought the best out of the Lions, who went full throttle down the stretch.It was San Beda’s 21st crown overall and 10th in 12 years. View commentslast_img read more

9 months agoDe Gea makes clear he wants Man Utd stay – but on his terms

first_imgDe Gea makes clear he wants Man Utd stay – but on his termsby Paul Vegas9 months agoSend to a friendShare the loveDavid de Gea has made it clear he wants to stay with Manchester United – so long as they meet his contract demands.The Daily Mail says the goalkeeper is keen to thrash out fresh terms at Old Trafford and end any lingering uncertainty after another man-of-the-match display in the 1-0 win at Tottenham.De Gea will command a significant improvement on his current £200,000-a-week contract and would expect his wages to top £300,000 including bonuses.Discussions between the 28-year-old’s representatives and United have been ongoing for some time but without resolution.United activated a 12-month extension in November, locking the Spaniard in until 2020 and preventing him talking to interested clubs this month ahead of a potential free transfer. TagsTransfersAbout the authorPaul VegasShare the loveHave your saylast_img read more

Tressel talks No 1 ranking Pryor showdown in Madison

Because of Ohio State’s convincing defeat of Indiana on Saturday, coupled with Alabama’s loss at South Carolina, the Buckeyes head to Wisconsin this weekend with the No. 1 ranking in the nation. Despite the hype the top ranking creates, OSU coach Jim Tressel said Tuesday that Wisconsin is going to come prepared. “They were going to be ready if we were 15th,” Tressel said. “I don’t know that that will change their readiness. What’s most critical is our readiness and our preparation and how we handle the adversity.” Although Tressel said the ranking won’t change things in Wisconsin, senior defensive end Cameron Heyward said the ranking could present a more difficult challenge. “We always just want to be No. 2, then we just go under the radar,” Heyward said. “No one expects No. 2 to do everything, but when you’re at No. 1, everyone is looking for you to fall … We look forward to just proving them wrong.” Injury report After adding another dimension to the Buckeye offense with his strong play to open the season, tight end Jake Stoneburner has missed the last two games after spraining an ankle against Eastern Michigan. However, Tressel said there is a chance the junior could return to the lineup Saturday. “He was back doing individual drills on Sunday night,” Tressel said. “I’m told that he is probable, but that was said cautiously.” Offensive lineman J.B. Shugarts missed part of the Indiana game with lingering foot problems. Tressel said it is something Shugarts will deal with all year but said he expects Shugarts to be ready to go this weekend. Pryor continues to impress Even with his legs being a non-factor against Indiana, Terrelle Pryor continued to prove he is developing into a precision passer. Setting a personal best through the air with 334 yards and 24 completions, Pryor earned both Big Ten Co-Offensive Player of the Week and team Player of the Week honors. And after another week to rest his quadriceps strain, Pryor is ready to run, Tressel said. “We feel going into every game that we need the two-way threat because sometimes the best decision that a quarterback makes is to tuck it and take off,” Tressel said. “It just so happens when he tucks it and takes off, it could be 60 (yards). So that’s huge to us, having that ability.” Battle in the trenches Wisconsin typically possesses one of the premiere offensive lines in the country. Tressel said that this week, winning the battle in the trenches is of utmost importance. “Every game is won there,” Tressel said. “The trenches are where it will be. Run game certainly, pass protection, for sure, both sides. That’s where the game is won and lost.” Heyward echoed his coach’s sentiments and said going up against Wisconsin’s offensive line will be no easy task. “I think Miami (Fla.) was a great offensive line as well, and there’s a couple teams that have a couple good players on the offensive line, but I think this is the most complete,” Heyward said. “They run so hard and finish blocks very well. They’re some trees and they get so much push, it’s going to be critical for us to keep up the line of scrimmage on our side.” Physical game With both Dan Herron and Dane Sanzenbacher suffering concussions during their last trip to Camp Randall, the Buckeyes are well-aware of the level of physicality to expect. “It’s a physical game,” Tressel said of OSU–Wisconsin meetings. “That’s the way Wisconsin plays and that’s why they’re good … They’ve got good intention to smack you.” Going for BCS No. 1 The Buckeyes might be ranked No. 1 in the polls, but projected BCS rankings have OSU at No. 5. Heyward said the team isn’t concerned. “I think every week is a chance,” he said. “We have so many opponents left on our schedule. No matter what the ranking is, it’s not even an upset or anything, it’s just Big Ten football. We know every opponent is going to give us their best shot, and every week we have to prove to everybody that we deserve that ranking.” read more

JT Barrett ties record with 6th Big Ten Freshman of the Week

Redshirt-freshman quarterback J.T. Barrett (16) runs the ball during a game against Minnesota on Nov. 15 in Minneapolis. OSU won, 31-24.Credit: Mark Batke / Photo editorOhio State redshirt-freshman quarterback J.T. Barrett set three program records against Minnesota on Saturday, then tied a Big Ten mark Monday.The conference announced Monday morning that Barrett had been named the Big Ten Freshman of the Week for the sixth time this season, tying former Illinois quarterback Nathan Scheelhaase who won the award six times in 2010.The Rider High School product set school records for the longest run by a quarterback (86 yards), the most single game rushing yards by a quarterback (189 yards) and the most total touchdowns in a season (37) during the Buckeyes’ 31-24 win against the Golden Gophers. Currently injured senior quarterback Braxton Miller previously held all three records.Against Minnesota, Barrett finished 15 of 25 on pass attempts for 200 yards and racked up 189 yards of total offense to go with four total touchdowns. His third-quarter scoring toss to redshirt-sophomore wide receiver Michael Thomas gave him the total touchdowns records, while a first-quarter 86-yard touchdown run moved him past Miller’s old mark of 81 yards.A fourth-quarter touchdown pass to senior wide receiver Evan Spencer also moved the Wichita Falls, Texas, native within one of Troy Smith’s school record of 30 touchdown passes in a season, set during his Heisman Trophy winning season in 2006.On top of his six freshman of the week awards, Barrett has also earned Big Ten Offensive Player of the Week honors three times.Through 10 games as the starter, Barrett has totaled 2,356 passing yards and 29 touchdowns compared to eight interceptions. He’s also second on the team with 771 rushing yards and first among OSU players with nine rushing touchdowns.Barrett and the Buckeyes are scheduled to return to the field on Saturday against Indiana at Ohio Stadium. Kickoff is set for noon. read more

PSG midfielder Grzegorz Krychowiak to join Lokomotiv Moscow

first_imgParis Saint-Germain defensive midfielder Grzegorz Krychowiak is closing in on a move to Russian champions Lokomotiv Moscow on a season-long loan with an option to buy, according to ESPN FC.Krychowiak, 28, who was part of the relegated  Premier League side West Bromwich Albion while on loan at last season, does not feature in Thomas Tuchel’s plans at Parc des PrincesAccording to the source, Krychowiak will join Lokomotiv for the campaign that will start at the end of this month — and Yuri Semin’s men will then have the option to make the Poland international’s stay at RZD Arena permanent for around €10 million when the term ends.Lokomotiv Moscow will pay an initial loan fee, said the source, taking the total amount that PSG could make on Krychowiak to nearer €15m and the option at the end of the loan could ultimately be paid in installments.Neymar, BrazilNeymar can win the Ballon d’Or, says Ander Herrera Andrew Smyth – September 13, 2019 An “excited” Ander Herrera believes new Paris Saint-Germain team-mate Neymar is a contender for the Ballon d’Or alongside Kylian Mbappe.Krychowiak was part of the Polish side that was eliminated in the group stages at this summer’s World Cup, where he registered a goal against Senegal in their first group game.Krychowiak’s form has dwindled since he left Sevilla for PSG in 2016 after winning two consecutive UEFA Europa League titles.The source also added that Krychowiak, who played for Reims and Bordeaux before Sevilla in 2014, was recommended to Lokomotiv by fellow Pole Maciej Rybus, who left Lyon for Russia last year.last_img read more