date:May 29, 2013
The July soybean contract was the big mover last week with prices rallying sharply since last Thursday. This sharp rally was triggered by tight domestic old crop stocks, a strike at Argentina ports and the rumors that a Chinese bean crusher was short July futures. The move seemed to come to a head at 12:20 CST on Thursday when it printed a high of 1546 .
As July soybean prices charged higher basis at key river terminals and crushing plants aggressively dropped their basis, sometimes multiple ti