Posted by caterpillar guy on October 09, 2018 at 04:30:03 from (47.26.86.124):
In Reply to: Understanding basis posted by rrlund on October 08, 2018 at 05:58:03:
There is more to basis than just the difference from board price to cash. You can contract grain on a set basis. With the board moving up or steady with basis deteriorating causing a gain for the producer. Not necessarily a price increase but a reduction in loss. If you contract bean basis at 60 cents and the basis opens to 80 cents, with the board at the same level you gained 20 cents. Looking at next years basis on beans at ADM Grand Ledge I am thinking about contracting some for next year hoping for some board increase. With the typical fall basis of around 70-90 cents I would be at 65 cents so a 5-25 cent improvement. Looking at it like that. Now if the board gained 20 cents. I could actually see an improvement if 20-45 cents now it could make for the difference of survival or bankruptcy. Not saying this will all happen as I present however it could all prove to be even more either direction.
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