Anouther solid week in the grain/oilseed market

[furrowtickler]

Where do we go from here? Good gains again this week, will there be a correction comming?

[charliep]

Was a good week.

Canola futures up $10 to $12/tonne. January at over $550/tonne.

Soybean oil up close to 3 cents/lb. Soybeans up 50 cents/bu.

Wheat up 10 to 20 cents/bu with Minneapolis at $8/bu (Mar).

Corn only up 7 cent/bu close to $6/bu.

Canola crush up 57 % over a year ago. Exports similar pace to last. Pace to slow.

[freewheat]

Who cares?

[RedRiverMB]

There are some fantastic prices to lock up on
production for next year. You know Canola will not
even be close to this price next year if any average
crop comes off with all the acres I am hearing guys
going after.

[parsley]

CASH THEIR CHEQUES!!!

[furrowtickler]

Absolutely R/R, thats the point. It's not about what is or is not in the bin this year, well sota, it is about opertunity for next year. I hope like hell, if anyone on here, freewheat you get a crop next year and for a few years beyond. I realy think no one here or anywhere has been in your shoes, you need more than a break - prayin for ya - not kidding.

[riders2010]

it all depends where you sit on the weather lottery agristability program. if you haven't lost any crop due to disasters and have your margin then by all means lock in. no worries you can be the biggest idiot out there the program will bail you out. for the rest either people were not as wet as they say or they are in denial. We went through this wet a few years back and if the areas that did not seed or seeded and poor crop because of wet get any amount of snow those acres are toast. With this last shot of snow and rain that has melted ditches are full and running now lakes in field. anything can happen elsewhere the drought areas that got enough rain to have bumpers but no reserve for this year what happens if no rain there while we get rain again will these be prices to be committed to with nothing in the bin and no agristability to fall back on? the peace area wasn't there no crop at all?

The weather lottery is creating 2 kinds of farmers those that can afford the risk, and those that cannot. Those that are stressed to the eyeballs and those not.

[riders2010]

They say they have no idea about what is happenning yet cashing their cheques and the minister says he cannot do anything about it, seems to me alot of do nothing know nothing that comes out of somebodies pocket to pay for on both sides, these people are not making chump change.

[charliep]

TOM4CWB posted this link in another thread. Interesting/worth bookmarking. You have to open the spreadsheet at the top to get the full report.

[URL="http://www.uswheat.org/reports/prices/doc/CCB13C078BC2CDF8852577D20072E621?OpenDocument#"]uswa prices[/URL]

[Fransisco]

A neighbor of mine had a dispute regarding a winter wheat FPC last year and found out, on top of everything else, our Director didn't have a clue how they worked. He still doesn't. The only thing he's interested in is telling everyone the monopoly is great.

[bucket]

Since the WP says that durum will sell, how about a FPC linked to their current asking price.

Or how about a mid month PRO to tell farmers how the durum market is changing so quickly. I know the PRO is useless but it would be some sort of indicator.

How about looking to the states and seeing there durum prices go from 4.50 to over 7.00 in the last month.

Maybe I could hear the premium song again and how american farmers didn't get 7.00. Well, yeah they did because they were paid to keep the stuff in their bins or if they did sell they were paid 6.00usd.

Why not just ask the minister if an exception could be made given the disasterous year farmers had and given crop quality for an initial equal to the off board price OR...

... A new formula that links the North American price, the off board feed price,the cwb asking price at the port, and a falling number to associate premiums to make up a GDC price for farmers to deliver against. Currently that could put a price out there at $7.25 for a base grade durum.

The cwb wouldn't be losing money, it would be based on quality(falling number) and the price would be attractive enough to match sales.

Interesting note about durum. When the price gets to high, millers will buy wheat. When wheat is worth more, they continue to buy durum. Durum should always be at a premium to wheat for high quality. But the cwb should know this. They don't!!!And so should the government when they are approving prices. They don't!!!!

[charliep]

Well said bucket.

The director's role is to set strategic direction and policy for the CWB as
well as mearsures of performance for a $5 to $7 bln business and from
there hold the operations side accountable for their performance in
meeting targets/acting on B. of D. direction.

[bucket]

Right, charliep BUT

Who writes up the targets for the BoD to approve??? The monkeys are running the zoo.

The board should write the targets and if ward or ian don't like them, find someone that reach or better the targets.

In speaking with directors over the last six months, I have learnt they know nothing. They think being a director is like a badge or something and all should hail them. They don't answer questions. If I, as a farmer, ask a question to a director I expect an answer.

And I get pissed when I hear "don't know, haven't heard anything, can look into that for you and get back to you".

I expect the directors to know as much as myself for two reasons:

1. They are farmers and its their business.

2. They are a director of a multi billion organization and they supposedly have a knowledgeable staff to get answers. And they should have asked the question before a dumbshit farmer like me.

The targets are too lax and this durum event proved it. Asked the director who will lose their job over a million dollar demurrage bill for one boat. He didn't think "anyone should lose their job because farmers weren't delivering grain ..."


My blood is still boiling.

The cwb issued early calls and couldn't get 75,000 tonnes to port because of shitty prices and its the farmers fault. Not the people executing the sales. Idiotic incompetence.

The director can't believe that 1 &2AD is being made into ethanol either. Wonder why the cwb is run so badly?

[ajl]

Keep in mind that it is not grain going up but the dollar coming down. Therefore if you sell new crop canola you had better have your fertilizer in the bin too since the same thing moving grain prices is also moving fert. prices. If this keeps up and it will, you will wipe your rear with $100 dollar bills while hoarding the toilet paper.

[TOM4CWB]

Bucket,

The slave grain grown in the CWB 'designated area' will always bring less... and not be dependable...

BECAUSE IT IS 'SLAVE CWB GROWN GRAIN'.

COMMERCIAL GROWERS IN WESTERN CANADA KNOW IT... GOODALE KNOWS IT... THE BLOC IN QUEBEC KNOW IT... AND THE TRADE IN CANADA KNOW IT.

BUT CHEAP GRAIN IS EASY TO SELL... JUST LIKE LADAS... SO WHY CHANGE?

If the slaves don't rebel... take the money and run!!!