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north central Oklahoma | Why so far out Buckwheat. Will basis improve enough by December to net you that much more over storage and interest costs. Presently, we have a 52 peso basis on July '08, so can lock aout a $6.20 harvest price in today at board price of $6.73 July '08. Interest costs add about 6 cents a month to the 3 cents storage costs, so the 5 months(July throgh November) will cost 45 cents/bushel on both storage plus interest on bank loans. Basis has to almost come to zero to be a break even. Am I missing something here? Or maybe my math is wrong.
Edited by Cowboycorn 10/16/2007 22:46
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Survival
