2008/09 PRO is on the CWB Website

[Fransisco]

Okay, I have had a closer look at those basis levels and I was a bit too generous. Okay, a lot generous.

To paraphrase the comic book guy from the Simpson's, " worst basis ever".

It's the first time the initial basis offerings was not OVER the MGE futures. Heck at one time in '05 it was close to $40 over!

Here's a hint for the boys and girls down at 423 mainstreet when you compete, even with yourself and you come in dead last, it doesn't get any worse than that.

[cropduster]

It goes like this Franny.........When you`re so far behind......you figure you`re first!!!!!!!

[Fransisco]

I tell ya, we need marketing choice the way Brittney Spears needs 'fruit of the loom'.

[Fransisco]

malt barely
Neil Townsend gave the presentattion here, at GW. Quite the chip on his shoulder. If barley wasn't going to be free soon would have challenged him on his malt pro.
For me south central AB it is $6.70 after deductions. Canada Malt and RARH have a program out of $6.75 minimum price contract. IF we go into the new crop year with barley still under the CWB, that is your minimum price. And you are in the traditional pool.
If all works and we have barley freedom prior to Aug first that is your garunteed price. CWB Townsend was out to lunch, saying supplies will normalize. Prices will then come down.
Not what Tim from England said at the WBGA convention! I believe he said prices will be strong so will demand as it is growing by 500,000 tonnes a year.
Townsend tried to take a shot at the grain companies for selling thier 800,000 t of feed in the summer, slammed them for not getting a good price for farmers. Hmm I thought it was good, was the CWB in the feed market at that time? oh right, forgot, they pulled out of the market, took there ball home as the big bad proactive players were not "playing fair".
Mood in the room is the sound of a clock ticking down, time is almost up. It is on barley and every one was saying when will it be for wheat ? comments CWB ??
Erik

[charliep]

What was the CWB thoughts on the "B" pool both in terms of the GDC offering and price? Are they still using a 3 MMT barley export program? When I look at current international barley prices, 3 MMT won't seem to be in the cards? Implication, more barley fed locally or carried into 2008/09. What were there comments on the domestic feed market (both old and new crop)?

[chaffmeister]

charlie wouldn't comment so I will.

Old crop 2 row PRO at 285 - new crop PRO at 360.

Seems the CWB wants to pay you $75/tonne to hold off moving any malt barley until new crop.

Like Charlie said, would hate to be a maltster trying to get malt barley delivered before Aug 1.

Hmmmm....didn't this happen last year? Oh yeah, but the CWB blamed it on the government. Who they gonna blame it on this year?

[Fransisco]

Ummm... hows about the government. It worked last time.

If that doesn't work they have the multi-nationals on standby in the scapegoat department.