Signing a futures only is a tactic that gives me nightmares. You have a commitment to deliver to a company/organization but no idea on terms.
I would keep my decision to a fixed price contract (flat price) or basis.
During the election campaign, the main commitment was to act on the barley plebiscite. Until yesterday, I didn't see potential for new crop changes to wheat. What members of the supply chain need (with the CWB a vital partner) is decisions about what will happen going forward. These decisions need to be quick given you as farmers are in the middle of planting (or at least hoping to) the 2011 crop. Grain companies and other members of the supply chain also need to prepare for something different. Customers need assurances.
I would keep my decision to a fixed price contract (flat price) or basis.
During the election campaign, the main commitment was to act on the barley plebiscite. Until yesterday, I didn't see potential for new crop changes to wheat. What members of the supply chain need (with the CWB a vital partner) is decisions about what will happen going forward. These decisions need to be quick given you as farmers are in the middle of planting (or at least hoping to) the 2011 crop. Grain companies and other members of the supply chain also need to prepare for something different. Customers need assurances.
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