Wheat basis...

[farmaholic]

Off Minni @ $5 U.S. @ 1.29 fx = $6.45 CAD. Local bid of about $5.55 for #1 CWRS 13.5 Px .....basis of about 90 cents/$33 per tonne....old CWB days had us(here) at about $65/tonne. Am I missing something? If not....wheat basis isn't horrible but the wheat price is!

[bucket]

7.94 at the west on a boat. You do the math.

And if it's not my grain after the slides open ... why am I paying the freight to the west coast.

BTW prairie canola price went down 10 a tonne but the west coast price is up 10 in the last week.

[farmaholic]

.....my calculator says about $2.40 difference, now that is a difference.

Anyone else care to comment?

[boarderbloke]

DEC MGE Wheat is only $4.93 1/4

[Klause]

We are Better than $5.23 to $5.35 CAD they are getting at US elevators for HRS right now.

[bucket]

It's all optics. Nothing has really changed.

The better question is....where did all the money go and where is it going now?

We don't have competition in rail rates ...never will...grain cos don't have to report sales. ..blah blah blah.

[boarderbloke]

currently $4.92, breaking well through the recent support which was holding for 3 weeks, at $4.97 during the last two weeks of July and first week of Aug.

After trading closes, look at MGE DEC Wheat , Daily chart. pretty sad picture. Where's the support???

[tweety]

and if we researched more and used even more fertilizer and fungicide we can get the price down to 4$

Isn't that the goal?

[farming101]

MWZ support at 4.81, then 4.65.

I did think back in early July that 4.40 was in play. I guess we might just find out.

[agchat]

and if we researched more and used even more fertilizer and fungicide we can get the price down to 4$

Isn't that the goal?

That is about right tweety. Relation of mine says he just cannot figure out why farmers do not understand three words. Supply and Demand. To wait and hope for a wreck somewhere else in the world is just stupid. By the way, relation is a very smart business man.

[MBgrower]

Tweety, x2. Best way to fight low prices is grow more for less.

[farmaholic]

Has everyone received their annual harvest price and grade insult yet?

If I wrote what I felt I would sure to be banned from this website....I can be, and am, foul-mouthed at the best of times but this wouldn't be pretty....and some people have the nerve call us radical. Fall is the perfect time of year to STEAL some value of grain. Oh but I am sure its somehow all my fault because of what I did and didn't do. Remember the market is always right.

You should hear what my 81 year old father has to say......and to think my kid wants a lifetime of this abusive horseshit.......f them assholes!!!

[fjlip]

As I have said, starting farming 45 years ago the price per bu was about the same....not much else is ...so far sons are saying no thanks to the ABUSE of the system.

However REAL sharp young guys are raring to take on the system all around me, GOOD for them, I once thought that way...

[farmaholic]

That is about right tweety. Relation of mine says he just cannot figure out why farmers do not understand three words. Supply and Demand. To wait and hope for a wreck somewhere else in the world is just stupid. By the way, relation is a very smart business man.

.......smart enough to realize primary ag production is too risky for the rewards. Probably the kind of businessman who sees the value of owning farmland....owns about twelve quarters but rents them out. Took other risks that paid, chooses to soar with eagles instead of walk with turkeys----meaning surrounding himself with successful like minded people who open doors for each other. Then there is the "luck" of wealth....the kind that comes without having to really do anything to acquire it. And the kind of guy who isn't overly flamboyant, is down to earth and salt of the earth. And probably a damn good money manager. I think I may know someone like that too....

[ajl]

If the unemployed understood the law of supply and demand they would just lay in bed all day and not send those resume out. Reality today is that there is no opportunity anywhere at the moment and I don't expect to see any for the next 30 yrs. At one time I thought the western Cdn pulse industry was a good Cdn growth story but will see how that does after 30 inches of rain. Other than that the real Canuckistan economy is dead as roadkill. GDP includes the value of a lot of government activity at cost and a lot of it is damaging so right now the growth is in public administration. Compared to the rest of the economy $5.50 wheat ain't bad so production will keep on coming.