Formerly NE North Dakota, now NW MN | Yeah, something like that.... Keep in mind that the Brazilians hedge in Chicago as well. If you can't get your truck into port to dump your beans and cash settle, what are you going to do? I'd hedge with whatevers available, in this case Chicago. Brazilian hedge pressure could push down futures, leaving basis to get the work done sourcing domestic cash beans. Basis is a truely international thing now.
Keep in mind...... Basis might have to bring some beans into the U.S. this summer. |
Hey Peter
