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Wait just a minute Mr. Illff
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wheat farmer
Posted 4/13/2009 23:03 (#679466 - in reply to #679121)
Subject: RE: Oh wow are you kidding??????



what makes the difference?  You really need to take a few marketing sessions through your extension office or through our extension office.  Basis only matters if you want to lock it is and try to price the grain in the futures market.  In our neck of the woods, basis don't pay the bills, cash price does.  Look at cash price between elevators.  Tracking basis is overrated unless you are playing the futures market for cash price.

I remember one marketing session I took, they gave basis, cash, and futures prices.  The exercise was to market your grain in 12 months and the be the highest net dollars.  Many were tracking the basis so close they missed a good out of season sale because the basis had widened even though the cash had gone up.

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