There probably aren't two dozen of us on here who know what basis is,but things like it come up in discussions from time to time. When I watched the show this morning,I thought they made pretty good mention of it and it might help a bunch of non farmers out. You're right,there's never any mention of basis at the elevator for the most part,just the posted grower paying price,but if somebody looks at the price on the Chicago Board of Trade and thinks that's what farmers get a check for,they're wrong. Just trying to help them understand the difference between CBOT price and grower paying price.
When I was shipping milk and the price was based on pounds shipped and butterfat test instead of components and all the quality premiums,a friend and I were talking price one night. His butterfat was the same as mine but his price was ten cents lower. It finally dawned on us that we were shipping to two different MMPA plants. I was shipping to a "zero zone" plant,meaning that there was no basis,he was shipping to a "minus ten" plant,meaning that there was a ten cent basis in his milk. Both plants were owned jointly by the same co-op and cheese manufacturer,but because they figured milk was coming from farther away to one,there was a ten cent basis to cover transportation.
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Today's Featured Article - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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