where is wheat going?

[dfarms11]

where does everyone think wheat is headed? The futures have been headed up with the exception of today. Think they will keep going up? Where do you get decent info on where wheat is headed? It's easy to get peoples/ grain guys take on canola markets, but wheat???? It's hard to listen to anything that the CWB says about the markets.

[bucket]

Wheat is going higher for quality.

The cwb didn't know this, which why they made that moronic sale to the saudis.

The US knew the price and got undercut which is why they are commenting on how the cwb can not continue to undercut prices as they will get caught short again in minneapolis. The US gave us the heads up on the cwb retarded trading practices.

[dfarms11]

ok, maybe I should sort of rephrase my question. Where are the CWB wheat futures going to go? Will they keep going up as well or can the CWB adjust the futures prices that they put out, to serve their own needs. I know what I am asking sounds wierd but I have a BPC and looking to lock in the futures price soon, and don't trust the CWB.

I am not looking to make this a CWB bashing thread but a good info thread on how their futures play out.

[mbratrud]

Are you working of Dec 09? You can Roll your basis! If your bullish wheat.... Looking at the S&D's Wheat futures are to higher than many expected right now. Once you have your Basis locked in the futures they quote you are directly from Minniapolis or Kansas converted to Canadian dollars depending on the type of wheat your selling... They really can only play games with the Basis which you have locked in.

[dfarms11]

Thanks. I took the march futures so I can wait a while. I didn't think they could manipulate the futures but I just wanted to make sure. Where do you get your S&D figures?

[samhill]

The CWB is a major player on the MGE.

[bucket]

I have a march futures to price as well. The basis is locked in at 58cents. Now I just watch the mge for march wheat. I think you have until feb 19 to price or roll. I would like to be priced a week prior to the deadline. It seems the price drops a few days before the deadlines.

As of the other day I was above the pro. It may go down a bit but even if a producer matches the pro he can look at getting his money early as a bit of a premium.

[Choice2U]

The only other thing to consider is the affect of the Cdn $. The majority of economists believe the dollar will strengthen over time. By March, we might see a 98 cent or par dollar which offsets gains. From Sept to Nov the dollar has averaged up 2 cents to 94/95 cents. Will this be large enough to offset any gains on Minneapolis?????