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Red River Valley | not sure about general consensus but I would not take a basis stand at this point until after the report on Tuesday
If the report is board price friendly I would set basis and maybe that day at what ever level on can get.
If the report is CBOT price negative I would wait until later to set basis.
On beans one needs to remember that the Processors are no longer bidding against the exporter so it will be hard to get much of a push from them, and in my area one of the bigger processors is gong to the sidelines in about 30 days so I think bean basis in the Valley is a dead man walking. | |
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What to do about the basis?
