Posted values don't reflect actual pricing

[craig]

Quote from CWB response to CD Howe.Nor do posted values consistently reflect actual pricing opportunities available to farmers, says the CWB.
This very sentence without explanation brings the CWB creditability into question. Are we to assume that U.S. elevators are run like car dealerships? Are we to assume USDA reported prices are not accurate? So to the CWB. Back up that statement with some creditable proof and concrete examples. In Canada when we call the elevator and they quote a price we assume they will honour that value. Why would we assume any different in the U.S.?

[wedino]

Or is the cwb saying their(cwb) posted prices are not the real price? It seems to me the cwb posted price only applies if you are doing a buyback.

[Fransisco]

I know the Board would never consider a single farmers liftime of experience as evidence but when I ask my elevator agent if he can do better than the current asking price, and I tell him how much tonnage I'm looking at moving, most of the time I get better than the asking price. I have never once recieved even a penny less than the asking price.

No doubt, the question the board would ask me in reply to this, is, 'who are you going to believe us or your own lying eyes?'

[parsley]

I asked Tony about it and he laughed and said "pricing opportunities available to farmers could possibly mean that a farmer can call in, and more favorably negotiate his buyback if he throws in an incentive or two."

I just can't get my head around that one. Pars

[TOM4CWB]

Parsley,

I seem to remember a certain single desk that sold organic wheat to a customer that industry had a strong hunch wouldn't pay!

So... who paid? The contingency fund? the pool accounts?

The CWB has been smoking hemp for far too long... they can get high on a sniff of tabbaco... and claim they are as sober as church mice!

That reminds me of the joke about how to rid 423 Main of mice ... just install them as members of CWB pricing options club!

[chaffmeister]

This is one of those age-old CWB arguments that just will not go away.

Back in ’01, the CWB commissioned Richard Gray to develop a method to benchmark CWB performance. In his description of US prices, he wrote:

“As I outlined in my recommendations, a discount could be applied to the elevator bid prices to calculate tradable prices, given evidence that bid prices are not regularly traded.”

He says there is evidence, but gives no evidence, nor indicates the source of his evidence.

I love that line, "...bid prices are not regularly traded". What planet is he on?

I've only been in this business for 30 years so I haven't seen everything.

For example, I have never seen bid prices not regularly traded.

This is one of those comments that when you hear it, you just want to say, "jus[**CENSORED**]lready!!"

[TOM4CWB]

Chaffmeister,

The only time they are not traded... IS WHEN THEY ARE TOO LOW!

[parsley]

Jeez, chaffy, your new sunburn must be irritating you under the collar. LOL
Pars

[padron]

That might be marijuana or some other substance you might speculate on that they're smoking at the CWB Tom - but it isn't hemp. Hemp growers don't produce that sort of product.

Just want to keep the air clear and the language correct.