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S Illinois | Do you know exactly what the elevator is using with regard to CBOT contracts to get you those prices? The range and splitting of the gain sounds like options are attached to the contract.
If $1.20 is normal to decent basis, $5 futures is definitely a good start if you haven’t done anything yet. But I would want a little more explanation and the terms spelled out in more black and white just so both parties know what the exact terms are depending on price at delivery. | |
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Corn 2026 pricing thoughts??
