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Basis
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msb
Posted 1/11/2008 21:58 (#281242 - in reply to #281119)
Subject: RE: Basis


Lapel, In
When delivery was done away with, the connect between CBOT prices and basis went out the window. For the most part we were then at the mercy of the grain buyer. There was no alternative at that point. As more and more farmers see the value of holding grain sales when the future looks as good as it does, basis should improve considerably, but so long as the mentality is I have never sold at these levels, yadda yadda ,yadda and grain keeps moving, nothing will change. As I previously said , we are creatures of habit and the habit is believing the buyers are in control. Well they are not in control once we realize that for the first time in eons, the holders of the supply are in control. Don't like 95ยข basis, then leave it in the bin. Let the market come to you for a change. Be patient. Better yet, leave the buyer an offer to sell on YOUR terms and then walk out the door. You could be surprized at how much they will push their bids. I got an extra dime on old beans last summer by doing this. Yeah I know I sound militant, but times have suddenly been turned upside down in the grain trade.
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