CWB PRO Release - October 28

[charliep]

Note today's PRO released.

[URL="http://www.cwb.ca/dom/db/contracts/pool_return/pro.nsf/WebPRPub/2010_20101028.html?OpenDocument&CropYr=2010-11"]October PRO[/URL]

[bucket]

Holy cow - almost as exciting as "the new phonebook is here"

Still not where prices should be considering what the asking prices are at and how early in the crop year it is.

Indicates they have made some terrible sales on that leftover durum they are begging for and currently paying demurrage on. BTW how much does that cost affect PROs?

[charliep]

Following information on the pricing pace going into this PRO.

October 2010-11 PRO and the price pace

The PRO is the forecast of the final pool return. It includes the estimated value of grain that has already been priced as well as the forecasted value of grain that has yet to be priced. The CWB prices wheat on a pace that is approved annually by the board of directors. The futures and options markets are used to moderate faster or slower cash sales to ensure pricing follows this pace. At the time of this PRO, the CWB has priced approximately 31 per cent of the expected 2010-11 crop year deliveries of wheat. A pricing level of 60 per cent is anticipated by the end of January.

[URL="http://www.cwb.ca/public/en/farmers/producer/pace/calculator.jsp"]pricing pace[/URL]

[boarderbloke]

Barley little changed. Isn't it funny that they go on to talk so much about US corn(nearing $6.00/bus) affecting wheat prices and even durum, in their commentary, while not mentioning corn when discussing feed barley and malt barley, which are commodities more closely aligned with corn. Not one mention of corn values going up regarding barley!

[charliep]

They did highlight Australia however which I assume should put a little urgency in their
sales program. In my cow/compaction analogy, it would appear Vancouver/Prince
Rupert are almost in total gridlock these days.