Dear Charlie,
I was wondering why the CWB is discounting our wheat so much... and why their is such a difference in the Basis:
http://www.uswheat.org/USWPublicDocs.nsf/2a788abb563a2d3285256f35006322c1/84fede74102007a285257380006a06b8/$FILE/PR071026.pdf
PNW DNS 13.5 cash is $9.89/bu
Nov del. FOB $363/t $1.62/bu basis over the futures.
THe CWB is taking over $12.89/t off the futures. WE are still short $70/t just on basis alone.
FPC is $271.38/t DPC is $306.45/t
Interesting that the EPO 100% price is $265/t
Do you have any explanations for why the CWB Basis is so far out of line?
I was wondering why the CWB is discounting our wheat so much... and why their is such a difference in the Basis:
http://www.uswheat.org/USWPublicDocs.nsf/2a788abb563a2d3285256f35006322c1/84fede74102007a285257380006a06b8/$FILE/PR071026.pdf
PNW DNS 13.5 cash is $9.89/bu
Nov del. FOB $363/t $1.62/bu basis over the futures.
THe CWB is taking over $12.89/t off the futures. WE are still short $70/t just on basis alone.
FPC is $271.38/t DPC is $306.45/t
Interesting that the EPO 100% price is $265/t
Do you have any explanations for why the CWB Basis is so far out of line?
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