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| looks like the next crop year is going to be a tight one, lots of $ in one hand and lots of $ out the other, I am afraid if they funds keep running the market higher, input prices will shoot higher, "cause they can" like in 2008. Basis will continue to get distorted like we continue to see in the SRW, on friday the funds bought 40,000 corn contracts, 40,000!!! thats 20,000,000 bushels of corn in one day, i am surprised basis didnt weaken more on friday, demand can not keep up with that, just like in 2008 demand will collapse, if the funds continue their buying pace into there record long positions. | |
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Basis update in St. Louis. (You will enjoy these numbers.)
