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South Central Iowa | Good thoughts and debate everyone!
I can see where people get the capture the carry notion. It does pull down toward the front month, soybeans most noticeably "paying" 63c to store for 15 months or so. That isn't quite enough to pay for it, but the carry is there in all three.
I take that less than I do the price, as some have noted. This should be profitable for people and if it isn't, it needs to become. The market has had abundance for nearly 5 years and been scared that a significant portion of our demand will disappear, but here it stands unbowed; $9.80 and $4.15. That is a pretty good price historically. Just need to find ways to remain profitable and competitive in here. | |
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Prices out through 2021
