Wheat Basis

[bucket]

The only reason we are chewing thru a huge crop is because miss a week of loading. Then your not one week behind you are two weeks. Miss another and it's 4. And if you miss the third train it's 8 weeks behind. Do the scheduling on it and you might understand.

For instance. I had an august delivery on wheat that they didn't make space for until late September. They are still weeks behind. A train every week can't catch them up. They need at least three weeks of two trains to even start to catch up. Won't happen. The point with 38 car spot 10000 tonne concrete is ****ed.

[MBgrower]

USA getting paid more on a smaller bushel. Like a canadian dozen, 13th one is free

[MBgrower]

USA getting paid more on a smaller bushel. Like a canadian dozen, 13th one is free

[Oilking]

Plus .44 cents basis for feb and plus .50 for march at Viterra in Brandon

[farming101]

Dreyfus Glenavon #2 12.5 6.17 CAD but not till August delivery

[Nudge]

While I agree basis should be reported ex currency and the exchange calculated on the futures portion, if you cannot convert a futures price to CDN$ you have no business farming. Go work at McDonald's. The till tells you how much change to make. Falling currency advantage grainco if you signed a basis contract/rising currency advantage farmer. We are all commodity producers. Get used to using and understanding fx, get used to times where cop is higher than revenue. It's the nature of doing what we do. Oil producers, miners of all things, those that raise livestock, coffee growers and every other person/company involved in cyclical commodity production is in the same boat.

[bucket]

5.59usd per bushel or 205 a tonne with a plus 18 a tonne basis. Net canadian price is 6.10. March in Brandon.

Let's see 5.59 is exactly mpls March futures. 5.59usd is 7.07cdn.

No one knows wtf the Basis is made up of Cdn or usd.

I don't know much about you guys but 7.07 minus a posted net 6.10 isn't a positive basis but it is a negative 97 cent something.

[farmaholic]

What ever you do bucket, don't compare it to instore prices.

I think tweety asked in a different thread if we thought knowing what makes up the basis is relevant. I think it is, how else do you know if it's a fair deduction/indicator/price/cost (pick your own term)? Its like not knowing your COP.

[Oilking]

I agree with u bucket,if the fx truly is worked into the basis we would have to have a lot better basis than what they are offering.Even plus 50 is terrible.I won't be locking anything in, what a robbery

[Braveheart]

I like to see plus 70 for 2 CWRS 13.5 to get interested.