PRO's.......

[lakenheath]

Damn near impossible to pencil a profit on these PRO's.

[TOM4CWB]

Incognito;

How on earth can the CWB justify these PRO's?

Is the CWB now on the hook for a massive penalty because we don't have enough high quality grain to meet sales... and now MUST pay massive penalties.... which in turn cause PRO's to drop like a stone?

I have some indication from Farmtech afterhour early morning discussions that the CWB has a massive problem.

What is really going on?

[furrowtickler]

tom4:
All the "higher" quality wheat is sitting in the bins or on the ground. Look at some of the other posts , the quality wheat is out there and nobody is calling for it. I agree what the h*** is going on?

[Incognito]

Only someone on the inside is going to be able to answer that question Tom and Furrow.

One of the line items you should be requesting in the CWB annual report is sales not executed and defereed to the next pooling year.

You may be still paying for the 2002 drought, the 2003 frost in the NW and the 2004 frost in AB and SK.

How many CWRS sales have been rolled forward to Japan and for how long? Not only that, those sales were made at a dollar substantially lower than it is today. Were the FOREX hedges lifted and rehedged?

Chaffmeister will give you better detail on the FOREX risk.


Best,

[IAMTHEMOLE]

There is no room wheat because they are too focussed on stealing everyones canola.

[lakenheath]

Something is not right.

[wilb]

Where I am, it seems the only thing the local elevator ever wants to take is #1 HRSW. The poorer grades are all sitting in the bins.

[almoy]

We can't move our No 1 here. They are only buying 2 and 3.

[Jman]

Almoy: are you sure your wheat is really no.1 or is the company buying your no.2 wheat as no.1? It could be that your local company may have tendered this grain for later delivery, therefore dont want you to deliver until the tender is required. Just a guess on my part. It seems strange that we cannot move high quality wheat this late into the crop year.

[almoy]

Graded No 1 by the Grain Commission. They are only buying No 2 & 3 in this area. We have sold some No 2.

[almoy]

Lahenheath, haven't had chance to look at latest pro's did they drop again?

[lakenheath]

They sure did. And at this point, any drop is very substantial.

[lakenheath]

On average about 11 cents on Durum and about 5 cents on Hard Red Spring. I am scared to see what the new crop PRO's bring to the table.

I have hunch that the pea and lentil market (which they claim is currently flooded) is going to be drowned this coming year.

[lakenheath]

I don't even know what to say anymore. We have a lot of guys around here who turned down decent feed prices because the CWB pro was higher, now since christmas if they dropped another $0.05/bus on hard red, that would mean that a hard red #3 with 12 protein is at 2.65/bus. Why am I selling to the CWB? Bad thing is though I can't get out my A series anymore so I'm stuck with them, when I could get more for feed. If the CWB has our best interest at heart shouldn't they be letting guys out of contracts if they can make more money else where?

[lakenheath]

I more thing, bet guys are kicking their buts that didn't sign an EPO.