July MGEX

[charliep]

Interesting day on the July contract for MGEX (spring wheat).

[URL="http://farms.com/FarmsPages/Markets/tabid/214/Default.aspx?page=quote&sym=MWN11"]MGEX[/URL]

[macdon02]

Who's the dumb sob at 423 main that got
caught again? We should have his head served
on a platter!!! Did they not learn from 08 ?

[SASKFARMER3]

S WHT 14 PRO Berthold Elevator
Cash Price Futures Month Futures Price Futures Change Basis
6/30/11 11.79 @MW1U 993'4s 6'2 1.85
7/31/11 11.44 @MW1U 993'4s 6'2 1.50
9/30/11 9.53 @MW1Z 992'4s 2'6 -0.40
10/31/11 9.63 @MW1Z 992'4s 2'6 -0.30
1/31/12 9.79 @MW2H 1004'0s 3'2 -0.25
9/30/12 8.65 @MW2Z 974'6s 5'0 -1.10
So how come again the whole world can see that their is a drought in Southern USA so very little winter wheat. Problems in Europe. Yet the CWB seems to think naw it will make it. Oh yea were flooded in Southern Sask and Manitoba. But I'm sure the CWB thinks its all seeded.
Canada where the lowest price is the LAW>

[FarmRanger]

I just worry that 2011 will be the year of
revenge....as if 2010 wasn't bad enough. Some
going out of business sales being negotiated?
Will we even achieve the lowest price offered to
our neighbors to the south? Will there finally be
an audit of the books?

[Wheatking]

Up 26-4 cents so far tonight. The only
commodity up 2.5%. Chicago up 1 cent, .13%,
kansas up 3.4 cents, .38%.

I know its the overnight session and a few
trades can cause wild swings but why the
discrepancy. Did the cwb sell wheat they
expected would materialize out of the bins and
can't find it so they are caught short and have to
buy the contacts back, or what's going on. I
imagine the margin calls must be killer.