Wheat basis

[farming101]

At the worst level for the whole marketing year now. Graincos kept all the exchange gains

[Kinger]

Seeing $6.50 + for new crop. Not a bad place to start for securing delivery.

[bucket]

Securing delivery ....thats funny....how about calling it securing excuses to store grain for them.

[wakopa]

Hmmm guess that's enough of this discussion

[Kinger]

If you have cash flow for Oct or Nov. Not a bad idea to sign what you need to pay it off in September. Not a guarantee but takes a lot stress outta the game.

Better than standing begging for a price a week before your bills are due.

[walterm]

If you have cash flow for Oct or Nov. Not a bad idea to sign what you need to pay it off in September. Not a guarantee but takes a lot stress outta the game.

Better than standing begging for a price a week before your bills are due.

Sounds like good plan except Ritz told them they wouldn't have to honor contract with penalties for 3 months after due date. Hope you can make same deal with creditors.

[sumdumguy]

Thank Ritz, you ditz.

[wakopa]

I wouldn't give advice on here kinger , it's like talking to the ----- at kelbys , they very smart but they get between 1dollar to 2 dollar less for there wheat then I do .

[wakopa]

It's like a few of the good advisers on here who had good advice but constantly got cut down and have left this forum ,

[Daylate]

It IS getting the feel of a local cancerous coffee shop. However. I am also dissapointed with the lack of leadership to get our grain to market. Everyone is hoping 2013 logistics never happen again. But the reality is, it's going to happen with more frequency, and many lost dollars will go to the wind before there's a real solution.

[biglentil]

Contracting 6.50 wheat 👎👎Sounds like a Viterra text notification "Don't miss out!"

[sk_wheatking]

It's always generous when the grain buyers offer a "special" or "premium"

[bgmb]

Sounds like good plan except Ritz told them they wouldn't have to honor contract with penalties for 3 months after due date. Hope you can make same deal with creditors.

What a joke hey. If a farmer doesn't pay his bill interest is tacked on but if the grain co doesn't pay or take delivery farmers carry the grain and store it for free.yeah Ritz was great. Really really great ostrich famer.

[farmaholic]

It IS getting the feel of a local cancerous coffee shop. However. I am also dissapointed with the lack of leadership to get our grain to market. Everyone is hoping 2013 logistics never happen again. But the reality is, it's going to happen with more frequency, and many lost dollars will go to the wind before there's a real solution.

This is derailing this thread.... But Ray Orb of SARM identified the growing production trend but now what are we going to do about it. And yes, capacity will be a limiting factor in the future again sometime. But the grain isn't going anywhere, the RR's will haul it sometime and the GrainCos can maybe use it as an opportunity to choke the producers with high basis and passing on incurred demurrage. The Grain Transportation Review has "recommendations"... But having producers pay for things that are out of their control and someone else's mismanagement or problem shouldn't be our problem. We are too easy to take from!

And the true basis.... **** the Forex, the Minni futures and everything else in that stoopidness. Take the export price deduct what you got paid and there you go..... true basis. We need to know what that export price is, it's not about them leaving us enough to barely be profitable but about us getting a fair share of the export price for the RISK taken growing this shit so others can make money off it!

[bgmb]

This is derailing this thread.... But Ray Orb of SARM identified the growing production trend but now what are we going to do about it. And yes, capacity will be a limiting factor in the future again sometime. But the grain isn't going anywhere, the RR's will haul it sometime and the GrainCos can maybe use it as an opportunity to choke the producers with high basis and passing on incurred demurrage. The Grain Transportation Review has "recommendations"... But having producers pay for things that are out of their control and someone else's mismanagement or problem shouldn't be our problem. We are too easy to take from!

And the true basis.... **** the Forex, the Minni futures and everything else in that stoopidness. Take the export price deduct what you got paid and there you to..... true basis. We need to know what that export price is, it's not about them leaving us enough to barely be profitable but about us getting a fair share of the export price for the RISK taken growing this shit so others can make money off it!

Weber has been talking about transparency for awhile. Need some serious lobbying efforts to get there. It is key to having a reasonable basis