Braham MN. | central va farmer - 3/22/2019 13:09
If you sell beans right now on a cash price it's $9.04 as I write this. Then they **** you on basis, dockage etc. In my area basis is $.40 so the $9.04 price minus basis is $8.64. Assuming no dockage I would get paid $8.64 minus the check off fee.
Your either bad at math, or reading, OR both...
Cash price is CBOT front month price MINUS basis.....
CBOT May beans are 9.03. That IS NOT A CASH PRICE!!!!!
your CASH price is 8.63......
I was in the elevator business for 7 years, if they don't make .25 cents per bushel, there going backwards.
And like others said, they make money on buying and selling BASIS, no markup on beans to China, CBOT sets the price, you buy or sell based on the basis off CBOT. |
What the elevator makes
