A basis contract essentially means you agree to market your crop through a buyer with a stated cost of being so many cents under the CBOT. A basis contract does not set a final price that you receive on a per bushel basis so you are free within the terms of the contract to see if the price rises. Some basis contracts have periods of 30 or 60 days. Some companies will allow you to rollover that contract for additional time at the cost of several cents per bushel. Given that your beans are wet there will be an additional cost for drying the crop. Call your elevator and talk to other farmers who do business there to make sure you are comfortable doing this. Right now you are facing watching your beans sit in the field subject to the weather and deterioration. Not a good feeling.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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