A basis contract essentially means you agree to market your crop through a buyer with a stated cost of being so many cents under the CBOT. A basis contract does not set a final price that you receive on a per bushel basis so you are free within the terms of the contract to see if the price rises. Some basis contracts have periods of 30 or 60 days. Some companies will allow you to rollover that contract for additional time at the cost of several cents per bushel. Given that your beans are wet there will be an additional cost for drying the crop. Call your elevator and talk to other farmers who do business there to make sure you are comfortable doing this. Right now you are facing watching your beans sit in the field subject to the weather and deterioration. Not a good feeling.
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Today's Featured Article - My Ford Golden Jubilee - by Troy Estes. This article is about my '53 Ford Jubilee and a story that starts with taking the tractor to my brother's Starter/Alternator Rebuilding shop for a wiring fix. The generator was shot as well as all the wiring. I dropped off the tractor expecting a transformation from a 6 volt to a 12 volt system utilizing the original generator housing, and a total rewiring of the whole tractor. The front end center pin bushing was worn also so I ask that they replace it if they had time. Well, that’s wha
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