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[furrowtickler]

Good wheat finaly getting some attention locally , one local at $ .71 basis for April

[bucket]

Plus or minus?

[furrowtickler]

That's a plus $.71 for #1. 13.5 pro

[bucket]

So 6.50 cdn ?

[bucket]

Sorry I meant to ask 7.50 cdn
?

5.83usd is 7 cdn plus the basis. Should be 7.71cdn?

[furrowtickler]

No , 6.50 ish - still a buck missing somewhere.

[Cattleman]

Are grain companies honestly quoting basis simply over the futures price and not converting to CDN dollars? Do they offer contracts that way? Must have wording in the fine print, otherwise I would be asking for $6.50/bu in US dollars!!

[Oliver88]

CDN $ = $.8092 USD

$5.81 Minneapolis = $7.18 CDN

[ColevilleH2S]

Cattleman, the answer to your first question is: That is exactly what they are doing. They do it with a straight face, and insist all forex conversions are accounted for.

And to that I say; Good Grief!

[bucket]

Ask john depape. He will all of you guys straight about how fx is in the basis.

So then when you take the mpls number you don't convert to a cdn dollar. And add or subtract the basis in who knows what currency.

Long and short of it is we are getting ****ed.

[Cattleman]

Yes bucket, I get it, the fx is in the basis, but the grain co's are full of shit to say the basis tightened today, because realistically the dollar just dropped 1.75 cents! They might as well be honest about it. As Oliver pointed out the basis is realistically - 70 cents. Wish you could call them on it, by using the actual definition of what basis is. Should convert everything to US then, say the basis is 57.5 cents US, add to the $5.81. Sign a contract and hold them to it. I haven't seen their contracts though.

[bucket]

Let's say you sell your grain thru a grainco. You pay the freight to the west coast as well as the handling to get it on a boat. If we were getting the west coast prices less the deductions and of course some profit it would be OK.

That's not happening nor did it happen a few years back.

We have nothing to show for it either way.

So what is the benefit?

[Hopperbin]

What are you finding for number two and three furrow? What are you finding for feb or march?

[furrowtickler]

Never asked, we were fortunate to have all #1 , but I will ask tomorow when I go there . What protien you lookin at ? I know discounts are fluctuating a lot .

[MBgrower]

Too bad the graincos didnt price fertilzer in $us funds, same as wheat.