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| I'm talking about canola here, but the principle is the same with elevator basis between the two crops. I have my choice of 2 elevators. 1 picks up the canola straight from the bin and figures trucking into their basis. They are usually out to lunch since I can truck to the other elevator cheaper than what they charge me to drive the same distance. So I don't sell much to them. The other elevator has their basis calculated at the pit. So I compare them to the closest ADM crusher for price. Funny how the local elevators basis is just a wee bit better than if I hired a trucker to haul my canola to ADM. My local nearby basis is over $50/tonne. That works out to $1.13 a bushel. These are the same guys that were buying canola last year for half that and posting profits. Nice, huh. | |
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Another basis hit on beans
