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NCND | Because China needs beans from NA by that time. I’m not sure if exact timeframe but from time bean hits combine here it is in China within a month or something like that. It’s safe to say since our basis hasn’t crashed that none of the beans for new crop have been cancelled.
I get loaded up on HTAS and usually set them as harvest nears then when they make the last 5-10 cent push I get basis contracts on the rest of production. Haven’t stored a single bean in quite a long time. Keep my bins open for wheat and other crops that pay huge carries.
Wheat in the other hand has become a bin it for 6 months and let basis come in type of deal. Usually been around -95/-105 wheat basis at harvest but can get down to -40/-60 by January March.
Edit to add that there are very few beans here that goto end users such as crush plants. Hence basis improvement is never seen.
Edited by vailcat 7/12/2018 08:20
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No bid pnw
