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Hobbyfarmer
Honored Advisor

Two adjustments the last few days

Have been out in Ks finishing this years planting out there in the dust.

 

Found this on the local coops web site on the "cash bids": page...

 

 

 "Our cash price is based off of the last electronic trade at 2:00 PM, not the 1:15 settlement price. Therefore our basis will be accurate but the cash may not be quite accurate. Please contact your nearest location for the most accurate bid"

 

Sometime in the last few days the basis went to +22 .

 

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2 Replies
rayjenkins
Veteran Advisor

Re: Two adjustments the last few days

I don't understand why they believe that using the last trade data to establish bids is less accurate.

 

The problem is that the 2PM settlement is just a reversion to the 1:15 settlement......thus, if corn closed at 6.50 at 1:15 and the last trade at 2:00 is 6.55, the settlement will show as 6.50.....now, which do you want your cash bid based off of....the latest information, or something that is 45 minutes ago...??

 

how much of a change is +22N ??

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Hobbyfarmer
Honored Advisor

Re: Two adjustments the last few days

The revision of basis is another +2 was +20 Wed. I left and was out to NW Ks the rest of the week. This is in SW/SC Iowa in the I35 areaish.

 

The cash bid was/is $6.01 Fri afternoon after the close.

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