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Buxton ND | First off nice job on the sale !!!!!
Personally, I would take your money and call it a year on that contract and not roll, why is below.
Locally with my unit loader bid lost a nickel off basis yesterday noon (-1.00) Futures down .18 + that basis .05 flat price beans in eastern ND lost .23 yesterday. My area is a great read on the demand to the PNW feeding China. Futures down hard basis widening is a BAD SIGN. That basis losing a nickel on beans that will be railed to the PNW in 1-2-4 weeks out is looking forward and a bad sign.
Basis looking more forward,
Feb -1.10
March -1.15
June -1.20
Again not the best sign.
If ND/Northern MN's massive crop of beans do not go west to the PNW, kinda thinkin beans are NOT gonna go to Herdford TX to feed the cows like corn. They WILL GO EAST, or maybe they go to St Louis then float to the Gulf. They will go where-ever they need to go to empty the piles/bags, my guess would be by March 15thish as this is our normal time for road weight restrictions.
I made a comment last fall that someone should go up in the plane touring ND and making a video showing
New unit loaders
All the pile next to these loaders and other piles around to feed those same unit loaders.
Those white bags.....
This is not being bullish/bearish or doom and gloom, its being DAM REALISTIC as to what has/is happening in this whole big northern-land fringe.
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Rolling a Soybean HTA from March to July
