Maizeing - 5/15/2014 21:15

It's pretty much been doing what we expected. The basis is following the spreads. There's not much opportunity owning basis in flat and inverted market structures. If you are still holding old crop pay close attention to how high that cliff is out to November.......... +300X is nothing to sneeze at and it will exert tremendous gravity on basis once July gets off the board, but it may not take that long.