|
| Sure...it's a short hand reference for time frame. Every year Chinese crushers visit the US and sign frame contracts pledging to take a certain amount of soybeans over the course of the upcoming crop year. This year they toured the export facilities at NOLA and took a look at the crops in the fields in the Midwest. They concluded their trip in Milwaukee where they signed frame contracts to buy 4.8mmts of soybeans from exporters over the coming crop year. These frame contracts are largely ceremonial as they cover beans that they would've bought from the US anyway. Not to mention they aren't legally enforceable and in several years we've seen some of the crushers roll their commitment into the next crop year.
http://ussec.org/2-3-billion-purchasing-commitments-signed-u-s-soy-...
| |
|
The farmer gets a screwin again
