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SD/ND/FL | I think you mentioned selling some soybeans to the river, correct? If so, what's a typical "good" soybean basis down there?
I rolled at Nov hedge to July recently to pick up $.35. The plan is to haul some beans down to the cities and bring back a few loads of urea.
I'm targeting a $-.30 basis for early June delivery.
$10.05 + $.35 carry - $-.30 basis = $10.05 cash. Trucking cost will be $500ish (breakeven on the basis).
Bought some urea for $200 picked up earlier this summer and that was about a $70/ton improvement over local. All-in-all, looking at a $600/truck profit. Not a huge profit given our volume but I'm going to take pleasure in not being captive to the PNW!!
Sorry for the ramble....just curious if you ever haul beans down there? | |
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? for ZMRacing (basis in Mpls)
