Its a whole new World!

[furrowtickler]

I would like to know about this $7.50 wheat as well ?? Both on old crop and 2016. Is that loaded rail car U.S. bound ??

[stonepicker]

Futures market!!

[SASKFARMER3]

never was anything close to $7.50 so were was this magic price.

[stonepicker]

Well i guess you never looked at last year's futures prices did you?

[SASKFARMER3]

7.50 minus a basis of what a 1.20 so it's 6.30 correct

[stonepicker]

no, not correct. I'm surprised more people don't subscribe to some of the marketing analysts ( companies that give recommendations on when to sell ) like anybody, they're not always right but they give you marketing expertise imo.

[newguy]

I agree with you Cattleman. Lets hope the 2016 whine is red so it can go with red meat.

[hobbyfrmr]

New crop Jan 2017 organic oats are $7.50 FOB farm. They may have filled up but its worth a phone call.
Grain Millers

[wakopa]

this is my lowest year for wheat since the year the cwb couldnt give my wheat away.usually im over 8 dollars in my pocket and i dont deal with marketing analysts.

[farmaholic]

Ok, I'm as curious as the next guy...

In the first week of last July(15), March(16) Minni Wheat was trading at about $6.50 US, the exchange rate was $1.27 at the time. So Canadian its $8.25 less some sort of basis would have netted a pretty darn good price. Now depending on where you're shipping and if your loading producer cars or what ever... there was good potential.

[furrowtickler]

What kinda wheat you taking about - hrsw ?

[farmaholic]

Hey furrow... at least I think it was the equivelant of our HRSW... Isn't it called Dark Northern on the MGEX which is the closest in quality specs as our milling wheat.

Anyone else want to help verify my numbers?
Farming101?...

[farming101]

Hey Farmaholic, your numbers look about right.
A lot of variables to consider. I wouldn't know too much about local markets in S Manitoba.
In theory,I would think if one nailed the high shorting Dec Minn and then locked in basis closer to delivery you could actually have done better than 7.50 CAD net.

The low CAD has really allowed basis to fly high.

[TOM4CWB]

Oct 1 Dec16 futures MGE was $5.95... was considering shorting futures... but better to grow Canola peas fabas flax... so I didn't. Wasn't enough.

$us 5.95x 1.41=$8.30/bu...

buy put on CDN$ instead.