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Red River Valley | so If you bought the beans when the CBOT was at $12.00 and the basis at port Parnagua (sp) Brazil is $1.00 under and the Basis at the Gulf is $1.00 over and Ocean freight is only .20cents more than changing from US to Brazil is a no brainer.
the above is not a factual price only used for teaching purposes.
There are many different companies in China buying Beans and the different methods and pricing options are almost unlimited
bottom line is they write a lot of contracts with very open sourcing options and they will source from the cheapest source- Going forward from mid feb it will be Brazil for quite a while.
Performance on shipping may be a totally different matter | |
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3 more cargos of beans switched to Brazil?
