Yellow Mustard Prices

[charliep]

CWB link.

http://www.cwb.ca/public/en/newsroom/releases/2007/100207.jsp

[grainboy]

out of curiosity why 43?

[grainboy]

out of curiosity why 43?
and do we think this market is at a real shortage or is the price more hype? also what are we going to see for contracts 25-30?

[cottonpicken]

I tack on 3 cents for all the goughing that goes on.

I would bet 30 cents will be the minimum contract price.

[mustardman]

Four or five years ago when yellow hit $.70 a pound I jumped too soon and got $.45 and I am sure the next year the contract price was no more than $.24

We need a big price, the yellow mustard here looked like 30 but yielded 13. Unfortunately mine was contracted at $.24 a pound.

I think yellow mustard like canary maybe we should grow a few acres every year and sell every five when the price spikes

[mustardman]

Actually 13 bus/acre is at the high end there were many fields at 10 or less. Durum was the pleasant surprise at 35.

[mustardman]

Memory check -I think the contract price was $.26 the year after the big spike. Anyways the buyers will start low and see if they get enough acres signed up,and raise the price if they aren't. There will be lots of interest so contracting would be the wise thing next year unless you want to store for couple years waiting for the next big spike

[charliep]

Just heard 50 cents/pound for yellow mustard. Don't know if a short (dealer who has sold/doesn't have product fill contract) or where the market is. Others being offered this price?

[melvill]

Just talked to CEO/grainbuyer/grand pooh-bah of a new mustard milling company that just opened at Gravelbourg, SK., called Mustard Capital Inc. The company had its official opening on Monday.

They have some innovative pricing alternatives for yellow or oriental mustard:
1) Spot for immediate delivery
2) Spot for forward delivery - basically a DDC
3) guaranteed delivery unpriced, at company delivery call, for a specific 60-day window. Price is average of STAT Publishing reported price over the 60-day period.
4) delivered unpriced with price average of STAT Publishing price from date of delivery to end of the crop year.

Prices are all FOB the farm. Current DDC price for Dec or later delivery is 38 c/lb. The company pays on-farm storage equal to the CWB malt barley storage program.

I checked with the CGC regarding licensing and bonding. The company has applied for licensing and bonding and that is expecting to happen within the next 10 to 14 days.

Phone number 306-648-2799

[traderj]

We just purchase 1.4 million lbs @ .55/lb f.o.b. Eastern AB for Oct - Feb. Delivery.

[melvill]

traderj, did you mistype "million"? That's roughly 15 super-B loads!

[grainboy]

a couple things, traderj what company do you work for? and that gravelbourg plant any ideas what type of volumes they are using?