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Kub's Den
Elaine Kub Contributing Analyst
Mon Dec 2, 2013 11:16 AM CST

Selling corn at $3.98 per bushel is only slightly more unprofitable than selling corn at $4.01 per bushel, but something about it just feels like a different experience. Behavioral finance uses the concept of "anchoring" to describe how our minds attach themselves to certain numbers or rules of thumb, even if there is no particular relevance to that number. So even though there's nothing magic about having a "4" as the first digit on a corn bushel's price tag, we feel it is significant.

At this moment, stronger-than-average basis levels in late 2013 have allowed the nationwide average cash bid ...

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