Fixed price contract really sucking today

[Fransisco]

Have a look.

http://www.cwb.ca/db/contracts/ppo/ppo_prices.nsf/fixed_price/fbpc-wheat-2010-mhrs-20110126.html

$9.50 minus $1.48 for standard Mb deductions and you're at <b>$8.02/bu in your pocket</b>.

The open market meanwhile is offering much, much better.

<b>Berthold ND $9.77/bu</b>

http://www.bertholdfarmers.com/

<b> Bottineau ND $9.57/bu</b>

http://bottineaufarmers.com/index.cfm?show=11&mid=6&theLocation=1&cmid=19&layo ut=1

<b>Rugby ND $9.61/bu</b>

http://www.rugbyfarmers.com/index.cfm?show=11&mid=15

<b>Fortuna ND $10.00/bu</b>

http://www.newcentag.com/index.cfm?show=11&mid=6

The dollar is basically at par so I didn't bother correcting for it today. But as you can see <b>the boards offering is in the range of $1.55-$1.98/bu lower</b> than the open market price.

That's right boys and girls, up to two bucks a bushel difference!!

[Fransisco]

And how's the Ol' Flex Pro doing you ask?

http://www.cwb.ca/db/contracts/ppo/ppo_prices.nsf/flexpro/flexpro-wheat-2010-20110126.html

$10.57 minus $1.48 standard mb deductions and you're left with <b>$9.09 in your pocket.</b>

Can you feel the love?

[jrlee21]

When do you have to sign a flexpro contract.

[Fransisco]

About 3 minutes after they offer it.

[ProFarmer]

Thankyou Fransisco

[ProFarmer]

Oh yea Burbert and Btofarmall are still pretty quiet....

[bucket]

timm hasn't been beating his chest or patting himself on the back lately about his thousand tonne flexpro contract.

Its amazing how quiet the board supporters become when they realize they have been taken advantage of.

Oh well, there is a threat of flooding in manitoba, so all the railcars will be tied up in moving their crop out in february. Program should be announced in the next day or so.

[cityguy]

No doubt that the FlexPro was the best of a bad bunch, but for clarity, has the FlexPro tonnage ever been filled. I've always thought that there's been no issue getting a FlexPro signed up, it's just a question of signing it up prior to the start of the crop year. That way the CWB knows that they don't have to "pool" any of your wheat, there fore no adjustment factor is needed.

Do know that there were tonnage limits on the old Daily Price Contracts and that there are tonnage limits on GrainFlow but didn't think there was a tonnage limit on FlexPro, or at least a tonnage limit that had been filled.

[timm]

If u adjust for protein flex pro isn't too far off

[charliep]

No tonnage limit on flexpro. Just had to sign up last half June/July. Flexpro works in a farmers favor in a rising market. Against them in a falling market.

Flexpro is still not a real price but rather a derivative of the pooling system. Spreads are still based off initial payments.

[Fransisco]

timm we've been through this a number of times before. You know very well that there is no need to adjust for protein.

[timm]

Not the .5 diff.....from the research I did
somewhere between .1 and .2 .At .30 $ per 1/4
around .40 $ less.Makes flex pro close !!

[gregpet]

Was told close only counts in horse shoes and $hit fights.

[Fransisco]

Well then timm please share that research.

[FarmRanger]

<i>Flexpro works in a farmers favor in a rising market</i>

...which is exactly what the market did, and even then, the flagship of the CWB can't even match the market, let alone offer a premium market price.