November CWB Pool Return Outlook.

[Incognito]

Malee:

What will the Labour Party do to grain marketing in AUS?

How is harvest going?

[kamichel]

At least the feed discounts from the CWB are now a little more humane.

[charliep]

Have to eat my words. The CWB is offering a BPC/FPC on the "B" series.

See today's bulletin.

The CWB is now offering Fixed Price Contract (FPC) and Basis Price Contract (BPC) programs for Pool B feed barley. Program sign-up runs until February 29, 2008.

Will note the fpc is a $25/tonne discount to the PRO. The fpc is also equal to the delivered price for western barley futures. That is the $32 over basis backed of by a rail cost to the current futures price (at least in March) - note that western barley futures is quoted track (loaded rail car) and the CWB fpc still needs an elevation deducted. Putting it another way, the CWB could get long western barley futures, take delivery and deposit $25/tonne in the pooling accounts (assuming the PRO forecast comes true.