Great Grain Lottery - One Month Later

[charliep]

Thought I would post the great grain lottery thread to do a check in after a month of market activity. Been away to long for forget how to post link but here is the address.

https://www.agriville.com/cgi-bin/forums/viewThread.cgi?1435419792

The canola chart is below. June 27 close was about $536 (Nov). Today was just under $500.

http://www.farms.com/markets/?page=chart&sym=RSX15

MGEX. Dec closed about $6.50/bu on June 30. Today - $5.45.

http://www.farms.com/markets/?page=chart&sym=MWZ15

[charliep]

For what it is worth, early fall DDC prices are about as follows (Carseland).

2CWAD 13 - $9/bu. Montana - USD $7.25 to $8.25/bu or just over Cdn $10/bu (spot).

Canola - $11.20 ish.

2CWRS 13 - $6.20/bu ish. Great Falls USD $5 ish or Cdn $6.60/bu (spot).

http://www.ams.usda.gov/mnreports/bl_gr110.txt

[newguy]

10 bucks on 3 durum for October for a week up till today P and H. Pioneer had a 11.01 for October durum #1.Weyburn both protein grades.

[farmaholic]

At first glance the topic looks like "Great Grain ROBBERY".....

Add - One Year Later

[oneoff]

So how close was this prediction made that month ago


"Ten percent increase until grainco's have covered their defaulted shortfall on undeliverable contracts.
Then return to lowest price is the law.



All premiums coming from those needing to get out of their contract positions.

That seems to be the new supply demand price schedule.

Wildcard is farmers will one day call this BS and hold out for a ROI that doesn't have a limit of a few nickels."

[Hopalong]

Even with wheat board and single desk in place, there was a big payout for those who chose to gamble on wheat prices forty two years ago today.
Growers who had deliverered on storage tickets could hold tickets over night into new crop year and ended up more than doubling their money.
Some other years the board extended the crop year to allow late deliveries to be included which allowed higher prices to those who avoided selling into new crop year.