Corn and Soybean markets are all based on the Chicago Board of Trade (CBOT). Local Elevators need to adjust the price for handling and transportion charges. This adjustment is refered to as basis.
Basis changes throughout the year as the local need for grain changes. Right now the basis is at about it's widest as harvest is getting into full swing. Couple months ago in Fixerupper's and my area (we are about 15 miles apart) the basis was negative. This was due to the reasons Fixerupper already has explained. BTW we are on the far side of Iowa from Chigago.
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Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
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