acres going in here

[foragefarmer]

Hopperbin

No worries here, read the price signals on wheat and have reduced seeded acres drastically this year. So could careless about the changing times, I have adjusted just fine. I have realized many years ago, wheat is not a big money maker.

Hopper, how about you, what have you done to prepare yourself for the changing times and these great prices? Is wheat making you any kind of return on investment theses days? Is your wheat moving, are the USA and Cdn buyers knocking at your door, arbitrage working well for you, mills being built near you? Let me guess your answers no,no,no,no,no,.

As for me questioning Charlie, he's a big boy let's here from him on the issue. He was very vocal before, yapping it up here on Agriville. Like I said everything should be peaches and cream in this new marketing environment.

[TOM4CWB]

Forage... For a troll you sure do know your markets!

I for one... Am very thankful that Charlie still adds wisdom from time to time... Forage pulling wisdom teeth seems more your forte... even though by your own admission you don't grow the crop!

Cheers!

[charliep]

Trying to highlight today's market stuff, I am going to post the monthly nearby MGEX and KCBT futures charts. Will note prices have come a long ways.

[URL="http://www.farms.com/markets/?page=chart&sym=MWN15&domain=farms&display_ice=1&e nabled_ice_exchanges=&studies=Volume;&cancelstudy= &a=M"]MGEX monthly[/URL]

<a href="http://www.farms.com/markets/?page=chart&sym=KEN15&domain=farms&dis play_ice=1&enabled_ice_exchanges=&studies= Volume;&cancelstudy=&a=M'>KCBT monthly</a>

I will also note a pretty significant rally in wheat futures in recent days. This weeks USDA report provided the first look at 2015/16 supply demand balances. 2015 world wheat pretty much equaling consumption based on knowledge today. I suspect these markets are bottoming but that needs to seen.

I would hope most everyone here has at least 75 % of their old crop sold/priced. Always a tough slug to move prices higher over the summer - winter wheat harvest in Northern hemisphere countries means a lof wheat available and seasonal lows. Need to watch HRW harvest progress and yields.

Sorry foragefarmer. Would much rather talk about market outlook/strategies.

[charliep]

<a href="http://www.farms.com/markets/?page=chart&sym=KEN15&domain=farms&display_ice=1&e nabled_ice_exchanges=&studies=Volume;&cancelstudy= &a=M'>KCBT monthly</a>

I will also note a pretty significant rally in wheat futures in recent days. This weeks USDA report provided the first look at 2015/16 supply demand balances. 2015 world wheat pretty much equaling consumption based on knowledge today. I suspect these markets are bottoming but that needs to seen.

I would hope most everyone here has at least 75 % of their old crop sold/priced. Always a tough slug to move prices higher over the summer - winter wheat harvest in Northern hemisphere countries means a lof wheat available and seasonal lows. Need to watch HRW harvest progress and yields.

Sorry foragefarmer. Would much rather talk about market outlook/strategies.

[charliep]

[URL="http://www.farms.com/markets/?page=chart&sym=KEN15&domain=farms&display_ice=1&e nabled_ice_exchanges=&studies=Volume;&cancelstudy= &a=M"]KCBT monthly[/URL]

Meant to highlight a nice rally in wheat markets in recent days. Counter seasonal in that northern hemisphere winter wheat normally corresponds to the seasonal lows in prices. Need to watch first US HRW first yields/quality.

[foragefarmer]

Tom4cwb

Speaking about teeth are you still on that Jenny Craig diet you call a hunger
strike?

It seems that it's effecting your reading ability as usual, where in my past post does it say I don't grow any wheat. I said I reduced acres due to price signals. Tom what do you do when you receive price signals grow more or cut back?

Tom, maybe you shouldn't have been wanting to reduce the CWB's monopoly powers, because the way it sounds you need it more than anybody now a days. Hey, maybe they could help remove or pay that so call Writ you have on your land.

Cheers!! eat a burger and support the beef industry like the rest of us do.

[charliep]

For what it is worth, the Canadian Wheat Board never had monopoly powers. They were a single desk that represented western Canadian farmers but they competed in a world market. The price charts which you choose to ignore highlight the market values over time.

Perhaps a learning over time is the variability in wheat basis. I still have the charts from basis levels used in the single desk producer payment options (specifically the fixed price contract). Basis or perhaps better termed adjustments varied from $20 under MGEX (1CWRS 13.5) to $110 under after deductions elevator to port were removed. Not so different than today. As an example today, a Calgary quote today $38 under for July delivery 1CWRS 13.5.

With all its worts, farmers at least have the ability to look at prices relative to market and evaluate them. They also have the ability to average their sales over the whole crop based on their financial needs, price risk management strategy and marketing plan. People may be unhappy with the currrent situation but I don't sense a big desire to go back to the days of single desk/one buyer, initial payments and a regulated delivery system.