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Local basis, got a good laugh
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Whatadeal
Posted 3/12/2016 16:58 (#5171750 - in reply to #5170525)
Subject: RE: Local basis, got a good laugh


central Iowa
Rob.Cogdill - 3/11/2016 22:20

I'm pretty sure the processors in the region are -50X, and I doubt the co-op can handle them twice and haul them to market on 20 cents. I'm certainly not cheerleading for the co-op, but I'd say they're taking at least some basis risk to compete for your beans in this case. Why not teach them a lesson and HTA the beans, or better yet, just hedge them yourself and trade basis with the processor?

In all seriousness, I recall seeing -80X at Bunge in gut-slot 2010, with a much smaller carryover of beans. We are posting -64X for new-crop beans today, and it would probably fade quickly if folks were actually selling any.
Off topic...you related to Sam?
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