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SC Iowa | Just to clarify what is going on-----are you saying they are paying +40K in the morning, then changing their bid to +15K for corn delivered that day, AND then going back to +40K as the bid for the next day....OR are you saying they are dropping their bid from +40K to +15K and then the +15K is also the posted bid for current delivery period going forward as well...??
We have some instances at the tail end of harvest in big crop years where daily spots reached 100,000 and up....and I have to admit I have been tempted by that knowledge, but we rarely move basis more than 5-10 cents per day......and they are not "one day wonder bids" either, where you have a much lower spot bid for the current day only, just to take advantage of the large spot deliveries on a particular day...
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Basis Change
