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| The elevator I usually deal with in years past set the basis each day after CBOT closing, but for most of their work day kept that basis fixed and at the grain desk had a real time CBOT display, so I can call that desk and ask the current price and it may be different from what I get with on line pricing delay. Sometimes higher, sometimes lower than I see and if I say, sell for xx delivery I get the price quoted on the phone at that minute.
Exactly what variables they use to set the basis is a mystery, they just decide they are willing to pay and can make money at some basis and they post it.
http://dtn.keycoop.com/index.cfm?show=11&mid=3&locationID=2
Gerald J. | |
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Who physically sets a basis?
