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NENE | Right now like most places we have a red hot basis. I have locked basis in on some bushels a couple times already thinking it was about maxed out and have seen it continue to strengthen. With the recent runup of the futures is the baton about to be passed to the board from the basis and we see some softening or at least limited basis gains going forward? I keep reminding myself there is still a fairly large supply of old corn likely to hit the market in the next couple months even if the new crop is short. | |
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Basis going forward
