Near-north Ontario, French River | I think #3 has already occurred "here". When beans were climbing last week, basis was dropping as expected. When beans tanks this week... basis dropped again... Now with beans recovering again... guess what,... basis dropped AGAIN. CBOT can do what ever it wants at this point, buyers will not buy at these CBOT prices and a "normal" basis. Elevators would love to see a crash on CBOT as margin calls are killing them at the moment, have been told basis will remain flat or decline as there has been a huge volume of HTA"s since Nov 07. Far as I can tell Chicago beans could hit $25 and my cash price wont change a bit, as basis will drop occordingly . |
What will drive this market??
