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.