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Central Indiana | I think we confuse a traditional contract that producers use with Grain elevators,ethanol plants, Soybean processors, etc with the actual contract in which China uses to buy Grain. That is a Frame Contract, defined as a non legally binding agreement between two parties setting out their intention to agree on the precise delivery schedule and pricing terms in the future with respect to the supply and delivery of specified goods.
That is how China cancels Soybean purchases, the purchase is made VIA a Frame Contract. Hope that helps a bit. | |
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Frame Contracts
