What are the thoughts on wheat price outlook for the next 2 -3 years?

[stonepicker]

Yep it's nice to have the freedom to haul your own wht. wherever you want without fear of getting arrested.

[wakopa]

Let me know what u get wise guy for ur wheat , bet I do better hauling 7 miles in Canada 29

[Hopalong]

Seems to be a bit of a split on thinking about ethanol and biodiesel, whether they are good or bad when used as replacement for fossil fuel.
Oil companies lobbied against them, farmers for them and governments tended to support them as replacement for imported oil
Jury is still out on envirionmental and greenhouse gas reduction value.

[wakopa]

Edit - should say what are u getting for wheat price in USA , think I can do less work and good money hauling 7 miles ,

[MBgrower]

Fill the bins and forget about it until the price comes back.

[jake550]

It's going to get better because it can't get much worse.
Also agree with MBgrower.
Lock the bins for wheat under $7.00 it can stay put for as long as it takes.

[farming101]

Monte's question was long term-the next two or three years. Don't think many
want to store a bunch of wheat that long.

Minneapolis could hold its own over that time frame. A big guess would be a range of 4.40-6.00 US.

Lower quality wheats don't look so good. Hopefully Minneapolis wheat will stabilize here
but there is nothing to say it can't lose another 40 or 50 cents. The Canadian dollar will
play a big part in deciding how much canadian wheat is exported, just like this year.

Speculation in corn gave wheat a boost recently and it will likely be some other market which
will spill over into the wheat markets and give it a chance to move higher. And when you're talking
2 or 3 years no one knows what's going to happen.

Chicago wheat is seeing its premium to corn erode. The feed market will have to step up to help draw down wheat stocks.


In the mini run up recently corn peaked later than wheat. Not a great sign for Chicago wheat.


Minneapolis premium to Chicago at a 14 month high in Dec 16 contract