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Ontario's middle east | One of the problems when flat price thinkers try to extrapolate what the cash market "has" to do, is they don't know what futures positions the end user holds. If they couldn't buy cash corn and instead bought the board they now own cheaper paper corn and can exchange with a basis trader for physical. A run in the board would be just what the Dr ordered....a bigger flat price that makes the farmer move it and moving corn that pressures basis...... The best of both worlds.
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end users might start singing a different tune
