Since Viterra left Lacombe I haven't been following markets as much as I should. Actually not at all (without a phone app I just don't seem to find time and I hate phoning in and bothering them).
I contracted CPS and Canola for off combine so don't plan on selling any more until the new year but called yesterday and wow prices are in the tank. 5 bucks for feed wheat, 5.5 for CPS, 3.31 feed barley and 10 something canola.
I took the SPE in the spring and have been kicking myself all summer for the added premium, not such a bad idea now. I had hoped it would be 7.00 wheat and 14.00 canola and I pissed my premium away.
How did the put option guys do? I can't bring myself to contract more than 25% of expected production (62% hail damage on canola this year) so I need SPE or options to lock in a price. The SPE was more expensive but its not cash out of pocket in the spring.
Hope prices bounce back and it doesn't freeze till December.
Stay safe everybody.
I contracted CPS and Canola for off combine so don't plan on selling any more until the new year but called yesterday and wow prices are in the tank. 5 bucks for feed wheat, 5.5 for CPS, 3.31 feed barley and 10 something canola.
I took the SPE in the spring and have been kicking myself all summer for the added premium, not such a bad idea now. I had hoped it would be 7.00 wheat and 14.00 canola and I pissed my premium away.
How did the put option guys do? I can't bring myself to contract more than 25% of expected production (62% hail damage on canola this year) so I need SPE or options to lock in a price. The SPE was more expensive but its not cash out of pocket in the spring.
Hope prices bounce back and it doesn't freeze till December.
Stay safe everybody.