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Central Missouri | I dont think the physical provider is gonna get the “gains” if the chinese bought futures at lower prices and exchanged futures at the time of cash contracting.
If the chinese bought futures at say 10 dollars and when they bought the cash beans loaded on a boat the futures were 10.50 they would exchange the futures at 10.50 to the export commercial for the cash physical beans.
The export commercial was short futures as a hedge and took the chinese long position canceling out the futures position of both parties and the chinese got the vessel load of beans that the commercial had.
If the chinese were long and exchanged their long for physical the chinese recieved the gain or loss on their long futures contract.
Edited by ehoff 11/22/2025 10:50
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Bean sales
