The American Grain Belt · One Season, 16 to 32 Weeks
Seed —
Corner on Wheat
You have $2,400, a leased boxcar, and a banker who wants his money back by the fall. Twelve exchange cities, eight commodities, one market day a week. Buy the weak basis, sell the strong one, and try not to be holding when the rain comes.
Futures & basis One national price moves for everyone. Each city adds its own premium or discount. Your profit lives in the difference.
Weather cuts both ways A drought ruins the crop and enriches your bins. Timely rains do the reverse. There is no good news.
Grade matters No. 1 pays a premium; damp grain slides to No. 3 in the bin. Blend two lots and split the difference.
The corner Hold enough of the visible supply and you can call it in Chicago — then answer to the Committee.