Protein Question ?

[agchat]

Hauled a bit a wheat I contracted last fall for
9.05 a bushel, based on # 1 13.5. Got cheque
today and noticed it was a 14.1 protein, but still
got paid same price of 9.05. Phoned Vittera, was
told that no spread on protein. Checked wheat
Board site and noticed from a 13.5 to 14.1 it is a
13 cent spread. What are others finding?

[wd9]

Agchat, what does your contract stipulate
if you did not deliver 13.5% ?

[RD414]

My question would be what if my protien had been 11, would there have been a discount

[charliep]

North America has more than adequate protein wheat
and the spreads between 13.5 and 14.5 have zero to
a dime bushel (both Canada and US). Spreads on
lower protein are tighter than normal.

Been looking at historical protein spreads for a while.
Volatility will be the name of the game.

[Hopperbin]

Havn't sold any of this wheat but was it not protien spread determined on delivery? Like smart move there. Other than than anyone got any prices on new crop?

[Hopperbin]

Can understand protien is not being paid for cause of so much high protien wheat availlable. Neighbours say they have 15.5 percent where that is never heard of around here.
Bigger question is since near Humboldt we have never ever had 15 percent protein before maybe a few had what ever, should one be saving it? Big question.

[Hopperbin]

Could also not be paid for cause us stupid farmers don't ask for it.

[agchat]

Thanks for the reply guys, but has anyone else
sold wheat with no protein premium since Sept 1
2012, other than the wheat board? Crap, I hope
we have not made a mistake
here?????????????????????????????????????????????? ??

[fjlip]

Pioneer Wadena paid premium for protein over 13 in Nov.

[wd9]

agchat, what does the contract say in
regards to protein?

[farmaholic]

"Could also not be paid for cause us
stupid farmers don't ask for it."

I don't know about you Hopper but I
don't believe in the "Gospel according
to Viterra/Patterson/Richardson/etc."

My spring wheat has px in the 16-17%
range, even before we only got paid up
to 15.5%. So, there is no area of the
praries that has lower protein wheat
that the higher px wheat could be
blended with? Even at port? Or no
offshore mills that need some good wheat
to blend up some poorer quality.

I can't wait for the day they grade
wheat on its physical characteristics
(px, bushel weight, falling number) and
throw the visual and other minor
annoyances out the window.

My neighbor said his chickens weren't as
fussy and never picked through it as
hard as the terminals. Ever see them
use a magnifying glass??

[charliep]

For what it is worth, here is the Great Sand Hills terminal protein premium and
discount schedule. The only posted schedule I am aware of although other grain
companies would be very similar from what I am hearing.

[URL="http://www.gst.ca/cwrs_discount_schedule.html"]protein schedule[/URL]

[agchat]

Wd9 no mention of protein in the contract.
Guess what surprises me, a couple days ago a
thread was started on per cent of commodities
sold and some said they have sold. Now when I
ask about protein no one wants to say if they got
a protein premium on the wheat they sold. Had
one guy tell me already not to worry, I will still
make more than selling through the wheat board
even if they pay a premium. Is that the attitude
we should have?

[agchat]

Charliep, thank you very much.

[charliep]

I will note the Northern tier states in the US are not paying premiums on high protein wheat either.

[URL="http://www.ams.usda.gov/mnreports/bl_gr110.txt"]Montana wheat prices[/URL]

Lots of high protein wheat in North America. Spreads have not changed much all fall/early winter.

Will likely to struck dead by lightning, but high protein wheat (14.5 plus) is one crop I might consider storing between crop years (assuming storable).

Most contracts are protein price schedule determined at delivery. Has been this way in the US for years.