MWH Again

[farming101]

Good follow through today after the best close since June 24 yesterday
Looks like it will close above 547 and a half which would indicate 554 and 3/4 next resistance.

[mcfarms]

Poor us ww condition reports Argentine flooding and potential for deep freeze over Russian ww crop next week giving some bad news potential for the first time in a while in wheat. Did sell some today myself March off may.

[biglentil]

Sold some #1HRSW at $6.70 for Feb. Too bad 4 u Richardsons and Viterra.

[jamesb]

ya getting bids for #2 13.5 @ $6.50

[Oliver88]

Wheat down yesterday and up today after the USDA report.

CDN $ at 76 cents now.

[Kinger]

Futures aside in MB there are red spring bids of anywhere from $6.50 to $7/bu for a 2-13 roughly.

Viterra has been having $7 targets get picked up fairly regularly.

JRI/G3 has been $6.85

Worth it checking to see what graincos protein premiums are though some are $0.02 per point which can turn a $6.60 for 2-13 into $7 for a 2-15 pretty quickly.

[furrowtickler]

We sit in the lowest price is the law land here.
2 , 13.5 pro at $6.25 .

[farmaholic]

I wonder of those Manitoba bids are servicing the nearby quality U.S. market. I would assume freight there would be cheaper than over the mountains or out the seaway.

[bucket]

Well the seaway is frozen and freight to Vancouver from Manitoba should be prohibitive to better prices.....so I guess you are right farmaholic....

[farming101]

A lot of wheat is railed to Quebec from Manitoba and Sask. Likely the better price reflects the fact that Manitoba is a little closer. And also Manitoba sends a fair bit to the US too.
I was wrong on thinking US shipments would be up this year. They are actually down so far. Likely because of poorer quality and also US farmers are sitting on a lot of stocks, much of it being good quality.