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| Basis tells the story of whether the demand is perceived or not. Here in SE ND the local farmer co-op has 0 basis and the ethanol plant has +15 both of which is unheard of in this neck of the woods. Getting back to the 1988 comparison it was purely a speculative weather moves the basis widen as the futures moved sharply higher. There was plenty of old crop oh hand. | |
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Corn
