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NW Indiana | I'm seeing cz25 trade as little of a carry as 10.5 cents to cz24. Sx25 as little as 18.5 cents carry to sf25. With the perception that supply is ample why are the spreads so small? Corn I understand because I think in reality the market knows the carryout is smaller than the usda is saying with demand numbers too low, along side the idea acres will increase next year but that is still a very small historical carry number. Soybeans one could make the argument that peak demand fiscally is now pushing the nearby bid but again with a sizable carryout that seems like a small carry. So what gives? | |
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old crop vs new crop spreads
