Posted 8/1/2020 09:31 (#8408540 - in reply to #8408308) Subject: RE: A bushel of corn is the same everywhere
I have a couple questions about this:
Where is China’s corn coming from that it buys? The west coast? Chicago(CBOT)? I ask because how basis varies by region. As you move down the Mississippi there is a positive basis. Basis equals cost to move product.
Who does China buy from? Is it a big entity with multiple elevators? Or do they just get a ship to a port and say fill it up with who can get it there, by rail, barge or semi, first?
Once again there are so many middle men in the process, each one has margins, each one takes a cut.