Re: It is a moving target that shifts shape
It is an understandable conseption (or misconception) when the reason given for the local market going up or down is the board of trade speculation. Basis is not usually volatile--------More of a gentleman's agreement between buyers.
Actually for most of my 60+yrs there has not been much market volatility-------the speculators market is all we could count on in a "surplus" world for a little movement from the fixed price. The older guys can remember how many years we went without a 30cent swing in the corn market over a year.
This is the one shining star for the ethanol market.-----another buyer in the local "pit" that is accessable to the producer. The grain markets have lived in localized monopolies for all of my life.