Hard red wheat

[wakopa]

I want a commission .

[wakopa]

I lock in futures then when I think the time is right I lock in the basis,eg next fall I have 8:22 futures , sometime this summer or fall I lock in my basis and so far get 7:50 plus for all my wheat. I a small farmer and have lost hundreds of thousands because of the union government employees when the welfare cwb was going,

[wmoebis]

What kind of commission you wanting?

[farmaholic]

Wakopa, the only thing I don't like about that plan is not knowing what grade I will end up with and having premiums or discounts applied at the time of delivery that aren't written into the contract.

Honestly, I've noticed in the past the contracted price with a reasonable discount for off spec delivery(before it was in the bin) can be higher than the market was offering for on spec delivery that wasn't earlier contracted.... I may need to get my head around being off spec. Way off may be a pretty big issue but a point of protein or maybe one grade lower may not be that bad? But contracting say a 2 durum and ending up with 5 or "commercial salvage" may be hard to reconcile.

[wakopa]

I know nothing about durum, my futures are on 2 red 13.5 protein, if I get higher , I get more money , if lower I get a discount but I getting at lest dollar more than most farmers . Commission 10 cents a bushel .

[farmaholic]

Do you do any direct selling to end users or load producer cars?

I wasn't willing to preprice grain I didn't know what it would grade or yield. ....but let a couple of good "opportunities" go in the DDC arena after I knew what I had :*-( Smarten up!

[wakopa]

I use to fill producer cars and it was good money, a friend of mine in pipestone did all his grain with producer cars , he retired before me .ambitiion level to fill cars for me isn't there, all my grain goes 7 miles to Paterson elevator .

[errolanderson]

Funds are short covering which is offering U.S. wheat futures a modest boost right now.

This may offer an improved short hedging / put option opportunity for new crop heading into early spring.