Missed the b series. How can I sell some CWRS

[Ooofty]

Before Aug 1st. It is #1 12% protein. Will the CWB have any GDC contracts or am I too late without sighning tonnage on the B series?

[charliep]

I suspect the CWB will GDC/cash programs late this spring/summer but that is only a guess.

I note a 12 % protein. Some grain companies have been open to offering prices for non standard contract grades/proteins but that is based on individual negotiation so that is an alternative realizing you have to carry until August 1.

The CWB spring pooling alternative may also have fit as well as some of their other programs. We need clarity and actual CWB contracts that can be reviewed/a decision made.

[charliep]

Realizing I may shortly be struck by lightning for uttering blastphomy, you could also look at the local feed market. No PRO for a 1CWRS 12 protein but an 11.5 is $214 and 12.5 $228 (average $221 as a guess for 11.5). Feed wheat in Alberta is pretty darn close to this.

[charliep]

On the corn/feedgrain front, I would really watch this Friday stocks report. Corn carryovers will be tight come end of August but the report will be an indication of how tight.

[TOM4CWB]

Oofty,

If you buy Pedigreed Seed wheat this spring you can pay for it by applying for an over delivery of your wheat that matches the amount you spend on wheat seed dollar for dollar... for immediate delivery now.

The other thing you can do is find a grower that has a contract and transfer it.

Cheers!

[Ooofty]

Hi Charlie, my closest Viterra is around $6.70 for 12% protein for August.I may be short bin space again so wanted to move some more before harvest.Thanks

[bucket]

Good point charlie.

When I look at the feed wheat price compared to #1cwrs 12.5px, there appears to be no value in growing food wheat.

I have been debating whether to grow 1cwrs low protein or ethanol wheat going forward.

Although mother nature can give high protein easily with some hot dry weather in july/august.

[charliep]

I know you have worked the math but the PRO (Alberta) for 1CWRS 12 is about $6/bu so you are getting paid 70 cents a bushel to carry for 4 months.

[charliep]

Likely beating a dead horse but the following is a clip from the CWB website on the current pricing pace.

2011-12 PRO and the price pace

The PRO is the forecast of the final pool return. It includes the estimated value on grain that has already been priced, and the forecasted value on grain that has yet to be priced. The CWB prices wheat on a pace that is approved annually by the board of directors. The futures and options markets are used to moderate faster or slower cash sales to ensure pricing follows this pace. At the time of this PRO, the CWB has priced approximately 72 per cent of the expected 2011-12 crop year deliveries of wheat. It is expected that the wheat pricing level will reach approximately 88 per cent by the end of May.

I suspect deliveries will slow to a trickle this June/July and that the CWB will have to be creative in terms of programs to transition into the new crop. 12 % of crop year sales over 2 months is not a lot.

[Hopperbin]

Excuse me but Viterra has had the price of 7.5 per bushel for HRSW plus minus deductions from 13.5. I would think that is not bad compared to feed.

[Hopperbin]

that was new crop supposedly neighbour said so