Lets look at Durum We harvested 30 acres on Sat only durum done in 30 mile radius seeded in April. Yield could be better and grade will be 2 if blend with last years. Later seeded Durum is way better yield. But here is problem if it keeps raining and raining and all late durum in west Canada is basically not going to have a lot of durum. Basically last years high quality that some farmers were liquidating because the CWB wouldn't take. And guess what those IDIOTS probably sold what we have on hand in bins for last years prices. So yes the US price of Durum will go up but in canada sorry we let this one get buy us again.
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Any way to find out what percentage of US wheat crop is unpriced? Since they deliver most from the combine and forward price Jan to June, I' bet the majority missed the price spike after the Russian weather issue. We are not alone marketing a bit too early, I fear. Now we will hear huge acreage increases in SA and 2011, that will pressure prices.
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Right except they don't start at $1.50 per bushel and wait a year and half for the rest.
Maybe the US farmer sold early but they are paid for the full value at the time. We are forced to store with no payments. They also took those contracts well ahead of seeding with a surplus of wheat. Western canadian farmers could not touch those prices at that time. The cwb only recently woke up to the fact that we are in a shit load of trouble with the crop. Domestically or world wide.
And lets talk about durum - forced storage and forced lower price for the carry and forced to wait three years for the 09 crop.
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Too wet to rent out?:
"Arab Countries Continue to Rent Land Abroad to Insure Food Security
04/30/2010
The spike in the prices of grains in 2008 prompted the oil producing Arab countries, which have limited water and arable land, to rent lands abroad to satisfy their demand and improve food security. The recent glut in wheat on the international market has not diminished the appetite of these countries to find more suitable land to use for the production of grains, mainly wheat. Sudan remains the most attractive target for many countries, including South Korea and China.
Saudi Arabia has rented land in Egypt and Sudan and is looking for similar arrangements in Algeria. Libya has signed an agreement to rent 100,000 hectares in Ukraine but that agreement has not been carried out as yet. Libya is also cultivating land in Mali.
[News reports earlier in the week indicated that Saudi Arabia is looking to rent land in New Zealand.]
Source: Al-Sharq Al-Awsat, London, April 30, 2010"
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They may have already - "we will sell you some very cheap wht and bly just don't come buy the land where our pro board supporters farm"
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GregPet We live 5 miles north of Elfros and the most rain has been about 4 miles south of Mozart. I dont even have to ask how things are going for you down there, impossible is the best way to explain it. Next year is looking bad.
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Don't you guys just wish that the old GRIP program was working right now? I remember when it saved my bacon many years ago.
I had to wait to the end of January for the money but at least I survived. These natural disasters should be covered by a comprehensive program...where are your smart politicians when you need 'em.
Oh, I forgot, they're not in election mode so their brains are turned off.
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