Another opportunity....

[farmaholic]

Basis levels Red spring# 1 13.5 per TON ; Dec - 1.10 U; Feb-1.85 U; Mar -.20 O; May- .75 O; JLY-1.25 O; AUG- .72 O; SEPT -11.66 U; Barb VT@771-4641Basis levels Red spring# 1 13.5 per TON ; Dec - 1.10 U; Feb-1.85 U; Mar -.20 O; May- .75 O; JLY-1.25 O; AUG- .72 O; SEPT -11.66 U; Barb VT@771-4641

Got another interesting text. Really good basis. But over and under what price. They still get to pick the price because we don't have a futures price discovery mechanism for spring wheat to work off of?

Am I out to lunch?

[bucket]

Hard to find an elevator willing to take wheat until december.

Sign the good basis and then they do like last year and string every one along.

Or they grade differently.

Was at an elevator a few days ago and they just took the sample and put it in a paper envelope for someone else to grade. WTF do you need a 100g/year manager that cant grade without head office approval?????

[farmaholic]

I know its a good basis and such but if I sign only basis and wait to lock in the price...... there is no functioning wheat futures..... its their call. Thats been my beef rant all along.

[MBgrower]

Do they quote the usa futures in usd or cad to those basis

[fjlip]

Good question, local Pioneer wheat basis for June 2015 delivery is $40 better than October. That's a 24% increase in 9 months, 32% per annum.