Charlie,
I see on wheat the 31 of Oct/07 the CWB has the basis@ $12.89 Dec and $14.81 under on March 08.
What tells you the CWB will be at $10 over in 08?
What is this deduction, it can't be a basis driven by market values at port position... It looks like another adjustment factor to assure the poolers, that flat pricers learn a lesson!
I learnt a lesson... doing a futures only and expecting a market driven fair basis from the CWB is totally unrealistic. Until there is major management revolution at 423 Main.... FPC and PPO contracts are taxes to milk flat worlders!
I see on wheat the 31 of Oct/07 the CWB has the basis@ $12.89 Dec and $14.81 under on March 08.
What tells you the CWB will be at $10 over in 08?
What is this deduction, it can't be a basis driven by market values at port position... It looks like another adjustment factor to assure the poolers, that flat pricers learn a lesson!
I learnt a lesson... doing a futures only and expecting a market driven fair basis from the CWB is totally unrealistic. Until there is major management revolution at 423 Main.... FPC and PPO contracts are taxes to milk flat worlders!
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