Ok this morning the local fear mongerer ( terminal manager) send's out a text saying markets are flat and basis is widening.
I go on the US wheat assocaites weekly report from Oct 11th and it shows PNW ns/dns 13.5 up a week fob by .14 cents a bushel over the previous week at 9.20 a bushel at PNW position. What should that work back to in the country? freight is about a buck the rest is Contry and terminal handleing cgc etc.
Are we seeing the result of a constrained shipping system here?
Are we seeing a way wider basis than should be ? And why?
Whats the play?
I think theres about 1.50w andering off somewhere in the elevator and terminal system somewhere.And do believe wheat should be from what I see at least 1 dollar higher than it is .
Am I right or wrong?
I go on the US wheat assocaites weekly report from Oct 11th and it shows PNW ns/dns 13.5 up a week fob by .14 cents a bushel over the previous week at 9.20 a bushel at PNW position. What should that work back to in the country? freight is about a buck the rest is Contry and terminal handleing cgc etc.
Are we seeing the result of a constrained shipping system here?
Are we seeing a way wider basis than should be ? And why?
Whats the play?
I think theres about 1.50w andering off somewhere in the elevator and terminal system somewhere.And do believe wheat should be from what I see at least 1 dollar higher than it is .
Am I right or wrong?