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Replies to post #4859 on Commodity Futures Trading
The most delayed U.S. corn harvest on record is resulting in chaos for traditional commodity trade routes.
Corn usually is harvested in the midwest, before it is sent south to be exported, according to Bloomberg. But because farmers in the east, hurt by a spring-time deluge, are holding back on supplies in hope of higher prices, the commodity's price has been pushed higher than the futures market in east - while it remains lower than the futures market in the west. It's a phenomenon known as "basis arbitrage".
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