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2011/12 CWB Wheat Pricing

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    #1

    2011/12 CWB Wheat Pricing

    I'm trying to doing some new crop budgeting. I see new crop U.S. wheat futures are a little stronger than March. What do agrivillers think the basis will be like for next year? Some supporting reasoning would be appreciated rather than pie in the sky.
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    #2
    Crusher,

    Most often especially in a rising market; the basis gets (CWRS over the MGE futures) better the closer we get to the delivery month. In a falling market; if many folks have done futures only, then the CWB is tempted to suck back values from these contracts by taking more value back (wider basis) through the pools.

    Since the contingency fund looks in fairly good shape, I would expect basis in the CWRS $10-20 over from Feb to June 2011.

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