Fall 2016 price of HRS!

[SASKFARMER3]

So since its a new year and new marketing lets talk wheat.
Their is lots of info on wheat out their but were talking HRS.
So for information we are in East Central Sask on a main CN line the following is based on a #2 13.
We are on the books to delivering HRS in fall off the combine for $6.50 Canadian for that grade in Sept and have a little higher for October. That is our starting point.
What are others getting and lets be fair tell your area if your in Alberta just touching the mt it should be higher. Producer cars or dumped in pit at local terminal.
Doing a basis and riding it out I don't think would work that well since the USA is dropping the price of HRS every day in Min.
Its our starting point what's yours.

[TOM4CWB]

Almost $8 cdn with $1.41 and 5.65 MGE may 17 futures. AS DTN said... the chances are very good... we being in the bottom half of the historic US market on corn... we will get another 1$us up on MGE wheat when corn rallies. Where is the bottom of cdn$? on top?

[SASKFARMER3]

So your getting 8 dumped in the pit just east of Edmonton.

[SASKFARMER3]

I guess I should have been more clear. I'm asking what your dumped in pit or rail car price will be in fall of 2016.

[bucket]

Consider yourselves lucky to be able to deliver wheat.

CN located elevators seem to move wheat.

[errolanderson]

Here's some crude math comparing Cdn wheat prices to Cdn oil prices . . .

Cdn Select Oil price this morning testing $20 per barrel U.S. or $28 Cdn equivalent. Lets say $7/bu #2CWRS fall wheat price . . . .

Today . . . 4 bushels of wheat now buys 1 barrel of Cdn select bitumen oil.

This compares to a year ago, Cdn bitumen at $70 U.S. or about $84 per barrel Cdn. CWRS wheat prices were about $7.50/bu.

A year ago is took about 11 bushels of #2 CWRS wheat to purchase 1 barrel of select Cdn bitumen oil.

[Hamloc]

Errol, stock markets in China and elsewhere having another bad day as well as the price of oil, what are your thoughts?

[ajl]

By my math 1.41 5.65=7.06 which is a little ways from $8. Your exchange is already in the 1.41.

[furrowtickler]

Tom - are you able to net $8 in the pit ?
Either the whole story not being told here or I am missing something ???

[SASKFARMER3]

Yes tom please share were all confused

[farming101]

2 13.0 April 17 del Camrose 7.30CAD

[furrowtickler]

So road ban season , April '17 - throw that number out for 90% of us . S/F was asking about fall of '16 - net in the pit ...

[farmaholic]

Would any Grain Company buy grain 16 months out? I have my doubt. Even though it's hedgible(?).

[errolanderson]

Hamloc . . . this is the beginning of a massive global bear market.

What is really scary to me is a Fed governor stating just yesterday that it is 'game-on' for the Fed to hike rates 4 times in 2016.

Ill-contrived central bank policy can be in-part the blame for this fallout. Now it is simply too late for responsible policy to have any measurement impact to reverse the current course.

Personally, I have much disgust with past kicking-the-can policies and excessive government spending

[wakopa]

Yep they buy 16 months ahead , done it .