MWH Again

[farming101]

Furrow cheer up I found lower for 2 13.5- 6.08 Jan del.

Saskatoon area 6.53 Feb del. for 2 13.5

Very sad. Worst basis of the year. The fact that Canadian markets are not responding to this old crop inverse likely means it is spec led and could be short lived. Today's action indicates there could be more upside yet.

Another thing is that only 15 percent of exports from ports have graded #1(some may have went out as specific quality) Quality is not top shelf and could even be having to compete with American HRW high protein.

[farming101]

Worst basis of the year, over 2 dozen ships waiting/loading, primary elevators half full. Guess it was pretty cold, doesn't explain the poor bids compared to the rise in MWH

[Kinger]

MB yields right now are reflecting a demand for high quality wheat to Mills in the US and Montreal. Off grade poorer quality is all being sent west to Vancouver where the graincos have more flexibility with what they can send and where they can send it.

Viterra is going hard into the US while others like Cargill are switching into doing more canola and soybeans and their bids reflect that.

Viterra has also been doing deals for high volume where they give a net price and whatever the grain comes in they get that net price no premiums or discounts what so ever. Heard that from eastern and western MB now.

CHS is also now doing on farm pickup for CNHR wheat where they are trucking it south to mills. Bids arn't as good due to the lower margins of truck movement though but good to see more competition popping up.

JRI, G3, and Paterson are doing all the same roughly with increased dockage based on fuz or vomi but buying it all as a #2.

[bucket]

Around here they get farmers to clean their durum... pay them on grade... then buy their screenings. ....and probably put it all back in the same boat at Vancouver. ...

[westernvicki]

When wheat looks like a great option: bonanza.

[farming101]

Kinger, thanks for your comments

[Kinger]

No problem, just trying to help.

[farmaholic]

My goodness....a country (the USA) awash in wheat and they need to import quality grain from Canada?

So let's all grow varieties that are dumbed down to the lowest quality common denominator and we'll never be able to set ourselves apart. Or differentiate our product from crap wheat.

Next question is if you feel you're being properly compensated for the premium quality? Probably not. Like high tide raises all ships....so does low tide lower all ships!

[farming101]

Most companies switched to basis May futures Friday. Maybe they have a little skin in the game after all