Dear Charlie,
I was just reading my ProFarmer from down under... help me to understand...
"„FƒnThe high protein spread between MGEX and KCBOT has averaged 250c this week,
This is down 30c from the Oct average.
„FƒnHowever this is still at an historical high level, after averaging only 136c in 2011.
Please tell me why the basis is so far out of wack... when our CWRS 13.5 is worth a $1.00/bu MORE than KCBOT
vs. 2011???
No wonder why the CWB has just nicked CWRS growers for over $100M on the basis!
I was just reading my ProFarmer from down under... help me to understand...
"„FƒnThe high protein spread between MGEX and KCBOT has averaged 250c this week,
This is down 30c from the Oct average.
„FƒnHowever this is still at an historical high level, after averaging only 136c in 2011.
Please tell me why the basis is so far out of wack... when our CWRS 13.5 is worth a $1.00/bu MORE than KCBOT
vs. 2011???
No wonder why the CWB has just nicked CWRS growers for over $100M on the basis!