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That's a huge question. There is a cash basis posted for each grain
elevator in the U.S. and it will vary from year to year depending on the
relationship of exports, domestic use and production. These basis (cash
price minus futures price) are quoted against the nearby futures, until
the futures contract goes into delivery, then you roll to the next
futures contract.
So there are probably tens of thousands of different cash price quotes.
The quote is only relevant to the individual location, so the commercial
can make a decision of whether he is buying a cheap basis, where he will
store the grain or a expensive basis, where he will immediately
merchandise the grain to the next guy in the pipeline.
So the bottom line is, the reason you have futures contracts in the
first place is to have a price everyone can work against. In theory, the
cash price in any location should be the futures price, less the cost to
transport it to the delivery location.
Hope this helps.
Kevin
> cash prices in grains (John Hayden , Wed 12:17)
> To:
> omega-list@xxxxxxxxxx
>
>
> I would like to collect/obtain the cash price for the different grains for
> the past twenty years. Does anyone know of a source that isn't too expensive?
>
> Thanks in advance,
> John
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