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S Illinois | Should be language similar to this somewhere in your original contract:
“Seller must establish the basis price or spread to another futures month by _______, if not, the buyer may set the basis price. The time of
shipment may not be rolled. The futures month may not be spread to the next crop year. Pricing and spreading must be during daytime CBOT
trading hours.”
Like was mentioned most commercials consider July as the end pricing month with regards to old crop and hedges or basis contracts. | |
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Setting Basis on Old Crop HTA
