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| I'm guessing you are seeing the beginning of worse yet to come. With 12 million acres of corn trying to find a home under roof, you could see horrendous basis spreads come fall. What we are seeing is a spec market versus the cash market which is the real price discovery market. What a buyer will actually pay you after you deliver is the real market. The spec market is merely fluff and has little to do with price discovery. As Long as we are willing to sell soybeans with a $1 basis, basis will not improve. | |
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$#@*&^%$ Basis
