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Nc Ks. | Did a basis contract for the first time on some Milo last fall. The day I did it basis was +$1.00. Today's local market had cash Milo basis at -.40 and October at +.30. When I called to see what selling Milo today would net me, the manager explained something about when the contract months changed, twice if I understood him correctly, I gained each time. Bottom line was that contract added $1.53 to local price. Can anyone explain to me what happened exactly?
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Help.understanding basis contract.
