Basis is the difference between the local price and the Chicago Board of trade price. An example: Chicago price of $7.40 and your local price is $7.10. That would be a -$0.30 basis.
Here locally in North-east Iowa we may have a positive basis much of the time. The closer you are to the end user the basis will be less or even negative. So a guy in North Dakota that is five hundred miles from the end user point may have a -$1.50 basis.
When marketing the goal is to get the best price but with the lowest basis as well. This way you should be maximizing the local market.
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Today's Featured Article - The Mud Daubers and the Old John Deere - by Jon Zehnder. I have a 1941, John Deere Model A tractor I have owned for about a year and a half. This is my first (in case my wife reads this, "FIRST") tractor and it has been a learning experience. After considerable advise and assistance from local tractor nuts and the forums of Yesterday�s Tractors, I had finally got it running pretty well. I have tuned it up, overhauled the carburetor, installed a borrowed, rebuilt magneto, installed a new Power-Trol, patched the radiator, installed new front wheels a
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