Basis levels costing farmers billions

[farmaholic]

They either hit the wall(?) or the ROI was too good not to sell the Co and realize the gain in share value. You have to wonder when they had port capacity/presence as well. I never was part of one but I feel there was a lose of independance when they got gobbled up by the major players.

There are some poorer facilities that are still being used state-side compared to the independants that were sold here. Amazing how people think.

[furrowtickler]

I am missing something here ??
Last year this time we had some of the best wheat ever produced and local bids locally were below $5
Right now bids are $6 ish and we have yet to sell below $6.45 for wheat that is still a #1 but not near a good as last years wheat.
Last year this time should go down as one of the greatest grain robberies in history.

[farming101]

You are correct Furrow. The situation is much better this year than last. Some of the recent price stability has to do with the CAD going way down.
Recently asking prices in USD for west coast HRS have taken a big hit
PNW HRS chart Aug 1,2013 to Present
<a href="http://photobucket.com/" target="_blank"><img src="http://i1211.photobucket.com/albums/cc421/farming101/PNW%20cash%20HRS_zpsh99fd39f.jpg" border="0" alt=" photo PNW cash HRS_zpsh99fd39f.jpg"/></a>

[SASKFARMER3]

I agree last year is proven that grain companies used the rail problem to make out like bandits.
Blame blame blame railways back door take every penny they can! They win!

[sawfly]

the prairie farmers went thru this
80 years ago.
politically they did what they could to protect themselves.

eventually
farmers fooled themselves to think they were big Capitalist's too.

and started electing the capitalist that.
sold off CN
extended seed patents indefinitely,
killed public var. research
created a chemical and fert. cartels.
and took away any chance of going back with NAFTA.

now with a free hand to make the rules. our partners in agriculture are turning out not to
be anything more than exploiters.

don't feel too bad , i was suckered in too sometimes.
this is one of those really good lessons, because of the cost.

when your bleeding billions and the govt. does nothing.
does it not tell you what side they are on.

[furrowtickler]

At least there is some deviation in basis levels this winter. Some very good basis levels have given those who watch the opertunity to sell for over $7
Also there is frozen / Fus wheat being sold for higher values than #1 hrsw was getting last year this time .

[Oliver88]

Hopefully we never experience the extreme basis levels that we experienced last year.

April 2014 onward net prices were forced up with Vladimir Putin bullying Ukraine and taking over the Crimea region.....the prices shot up with high basis in the nearby months and less for the further out months.

[tstep]

And everybody sits here, on agriville, and ******* and complains. Everybody should be sending emails, texts, whatever to the people that said this wouldn't happen. Ritz, Anderson, Harper and anybody else they can think of. Bitch on the ears that said it was going to be better.

[fjlip]

Always been doing that...hope not the only one.