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| Thanks Joe, Swne, and Tim. How far out are you able to forward contract (2011, 2012,...)? The grain buyer I deal with here says that in the corn belt area they will contract out 2 years. He says there is more competition with the ethanol plants. Here we can only contract to Feb 2011, which means only 2010 new crop. My local elevator is offering a (minus) -.35 basis for O/N/D 2010; so to contract with an end user willing to lock in a (positive) +.40, looking at $4.52ish, for O/N/D is too hard to pass up right now...Even if Roach says we are not in a sell signal. | |
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Basis and Forward Contract
