Posted by paul on November 01, 2010 at 11:04:12 from (76.77.197.242):
In Reply to: Re: Grain contracts posted by NY 986 on November 01, 2010 at 05:23:44:
The tradeoff of you getting a darn nice price tho - we were lucky to get down to 70 cent basis just now. Was close to a dollar a bu a bit ago. I suspect those of you with tougher buyers, tend to be where grain is short & they pay pretty close to CBOT price.
Here we end up dealing with a coop elevator most of the time, and they can be pretty forgiving - if you work with them, and inform them early on so they don't get slammed.
Last fall the late harvest, I said can't deliver the October contracts until Nov. He shrugged his shoulders - get plenty of grain around here, they end up storing it themselves until spring so doesn't matter if you bring it a month late. Would be different with an actual end user, they write the contract to get grain when they need it; they get messed up if they don't get whaqt & when they plan.
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