Soybean Spreads

Watch the spread between November 2020 and January 2021 soybeans. In late September, the January contract closed 7 cents over the November contract. Now the spread is at even money.  It is unusual that cash soybean bids moved out to the January 2021 contract in mid-October. It appears that grain companies do not want to be caught short the November contract for the cash soybeans they are buying.

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