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ND | I was talking to a local guy today about grain markets. He said he contracted a few thousand bushels of wheat a few weeks ago for fall delivery. Right now (the same elevator) is offering a price that is almost $0.60 higher than what he contracted for. He said he hasn't signed the contract papers yet and he doesn't plan to because he is going to try to resell at a competing elevator for a better price. I was wondering if he can do this or is him saying over the phone "i want to sell" enough for the elevator to make him follow through with the contract? | |
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Has anyone backed out on a grain contract??
