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| Have been watching local beans here the last few weeks as I still have a few in the bin. The futures, of course, have been marching pretty steadily up, but basis has just been backing up to nearly match it. While prices have climbed, basis has backed up nearly 30 cents. Same for wheat, local basis here is currently 72 cents, the best it's been recently is about 54. This seems a tad ridiculous. Just frustrated, I suppose.
Edited by Pofarmer 6/5/2007 23:41
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So what good is the futures market anyway?
