Wheat Basis

[crusher]

With the sliding Canadian $$ some line companies are narrowing their basis. Time to pay attention. Hopefully the dollar and wheat bottom soon. DYODD.

[Braveheart]

Crusher, shhh. Don't tell anyone on here. It will just start another thread of grain co conspiracy, Ritz screwed up, Bucket and SF3 sodomized again, DePape bashing, FarmLink smacking, Weber worship, CWB longing, fx not calculated right, the market isn't working, the sky just fell . . .

[Oliver88]

CDN $ down to .7922 at one time today.
This created a higher wheat price due to narrowing of basis. (At P&H anyways)

I am starting to wonder if locking in a basis for June/July deliver if the CDN$ goes to $.75USD?

Oil at $44 and $.79USD.
I think there will be opportunities ahead.

[Braveheart]

Many ND elevators have strengthened their basis to .20 under.

[SASKFARMER3]

God some of you just don't get what's going on!
SHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH
Here is news at a 11: Cars canceled last week and this no delivery till road ban and that's at a terminal.
AH just close our eyes and every thing is great.
WTF.

[SASKFARMER3]

Also some USA elevators went to a plus.30 cents us off the July for spring wheat. Less winter wheat seeded and warm now cool we have some issues. They need delivery in July so they work for it. Here F%?K it comes in nothing to do but sit back and smile and wave boys smile and wave.

[Oliver88]

Here is today's future price change, the dollar closed at .793USD.

KCBT Red Wheat
Contract Symbol Last Change
Mar'15 (KWH15) 544-0 8-2
May'15 (KWK15) 548-6 7-0
Jul'15 (KWN15) 553-4 6-2
Dec'15 (KWZ15) 578-4 4-6

MGEX Spring Wheat
Contract Symbol Last Change
Mar'15 (MWH15) 559-2 4-2
May'15 (MWK15) 565-4 2-6
Jul'15 (MWN15) 573-0 2-0
Dec'15 (MWZ15) 592-0 1-4

[SASKFARMER3]

That would put a delivered price into ND at $5.73 plus .30 or $6.03 USA or in real money $7.60 in your account.
Brave what's out their in your neck of the woods. AH let me guess.
$4.60 today. Remember this is today vs. today. Not a basis you did months ago off the Jan then rolled till July but still gives you 6.35 Canadian or FM its still less than what the Boys to the south are offered off the combine.
AH math must not be a asset in your neck of the woods.

[wmoebis]

SF3 is that Winchester, Avery or Imperial bus?

[Braveheart]

Wmoebis, in the US it will be Winchester. 58 lbs per bushel for wheat.

[SASKFARMER3]

Winchester is what the bushel will be.

[Braveheart]

Bottineau Farmers Elevator in Nd is .55 under for spot delivery.

Locally, Viterra has strengthened basis for June/July del but only to catch up on weakened CA dollar I think. Not enough to reflect new sales/ movement.

My math is just fine. It also calculated we had a HUGE crop last year we're still digesting, a good crop this year, and an unaccountable, noncommercial transportation system

There would be a miracle needed for the wheat price to go up. Outside of getting a few free premium tv channels by mistake I don't see a miracle coming.

Ah farming. The real miracle might be farmers not selling grain into weak basis signals.