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Buxton ND | Maize is a busy beaver so I'll help him out. The last couple of weeks the ZXS16:F (SP) has been reading a tad more bearish then the 1st 1/4 of 2016 There is roughly a .05-.06 carry to each forward month til May. China's buying beans like CRAZY, YET Mr. Market's paying you to store them does not quite make since. In farmer term's end user are/have been having no problem sourcing beans to send to China. My local export bean basis has lost .15 in the last 2 weeks, again no problem sourcing beans to send to China.
Spreads have been saying, "I wouldn't be caught dead long beans" since June 30th. There's some other goodies here also to back me up saying something that point blank in public. It does not get anymore blunt then that. | |
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Price follows the spreads question
