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| Before you go to all the trouble to question JD70's truthfulness, please remember that both he and dvanklomp's wife could be right. You can check Maynard Cargill's website and see that the basis is -.28, yet you also see that they were closed April 11 due to weather. It's entirely possible that they found themselves short by a quantity needed to complete a shipment and the manager asked one originator to make a few calls to producers who might be in the position to supply that shortfall to fill it. Dvanklomp's wife might never have been aware of it and the official basis may never have changed.
Many of us have had the experience of the ethanol plant suddenly finding themselves short a few thousand bushels and gotten a phone call asking for a quick ship load or two.
But we should be careful before we become too critical of anyone who volunteers basis information. The fact is, producers need to know when market factors like basis change and usually we're the last to know. We should not be discouraging people from volunteering information just because it's not official. After all, how many of you have made a smart move trading futures or selling grain because you follow the gossip and guessed the trend early? | |
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You have bad information
