Was touring around on Agtalk last night and found a thread about farmers starting to lock in fall prices on wheat.
"Started making fall wheat sales today. $7.07 for soft white last half September delivery. I wasn't thinking we would see wheat back at this level this year. Couldn't resist making a sale at over $7 and above this years winter wheat insurance price guarantee. Is this a short term thing with Weather & Russia pulling wheat higher?"
So what are Canadian farmers getting?
Ah I know I know.
$1.77 Basis off the fall Min Sept price or $5.55 Canadian.
Or in Canadian $7.83 - $5.55= $2.28 Dollars a bushel less and he is locking in soft white.
You can also show Cargill going out to next February with a 1.32 basis which is now higher but your guaranteed delivery.
Ok Boys cut me down. Bring it on tell me all about it.
Yes we have a backlog of grain but I'm starting to think they will be looking for grain come summer.
So how are we doing?
"Started making fall wheat sales today. $7.07 for soft white last half September delivery. I wasn't thinking we would see wheat back at this level this year. Couldn't resist making a sale at over $7 and above this years winter wheat insurance price guarantee. Is this a short term thing with Weather & Russia pulling wheat higher?"
So what are Canadian farmers getting?
Ah I know I know.
$1.77 Basis off the fall Min Sept price or $5.55 Canadian.
Or in Canadian $7.83 - $5.55= $2.28 Dollars a bushel less and he is locking in soft white.
You can also show Cargill going out to next February with a 1.32 basis which is now higher but your guaranteed delivery.
Ok Boys cut me down. Bring it on tell me all about it.
Yes we have a backlog of grain but I'm starting to think they will be looking for grain come summer.
So how are we doing?