Texas/New Mexico Stateline | I am seeing this happen right now in our area. Local elevators are buying unit trains of corn from the midwest with a very weak basis. Railing it in, hedging it a few months out to capture the carry in the market, and wait for the basis to strengthen here locally. And it is. I would be as "happy as a tornado in a trailer park" if I was a local merchandiser right now. Big basis appreciation for anybody selling corn now if you have any to sell. Therein is the reason.
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How elevators trade grain
