Weaker basis level no surprise

By Malcolm Bartholomaeus
January 14 2022 - 12:00am
Weaker basis level no surprise

Nearby futures had three major peaks during 2021. The first in April hit just below 770 US cents a bushel. The second major peak arrived in August and also failed at just under 770 USc/bu. In November we had a third run up, with the market hitting 797 USc/bu, before running all the way to 863 USc/bu on November 24.