2004-05 PRO

[TOM4CWB]

Incognito;

At least those who needed $9/bu canola had a chance to get this price.

Those who could afford to sell at $8/bu sold and allowed the market to get to $9.

Same with the soybeans.

The CWB plan to give us all the lowest price... as the 04-05 price clearly dictates... offers no "premium price" for anyone in Canada.

The CWB can wipe out the Ontario Wheat Board in one year if they feel like it.

A marketer with no cost of sales (the CWB)is the biggest danger to any market!

[Incognito]

One question i had earlier was how many farmers were forced to sell canola off the combine because wheat was 2.50 and barley was 50 cents - i know Boone - it will be better - but cash is king and bills have to be paid.
I wish i could talk some MBA writing their thesis to tackle this question.


I am really disappointed with the CWB the last two years. They gave farmers the tools to become better marketers, forgot about educating them about the options and then failed miserably versus the rest of the world marketing grain.

How much market intelligence does it take to sell 1/12 of the crop in each month?

[TOM4CWB]

Incognito;

This is a real problem.

Which 12 months?

When a grain purchaser wants to buy, does the CWB sell and rehedge the sale to create the 1/12 per month?

I know the CWB really pushes domestic forward sales to millers... up to a year ahead. How does the CWB risk manage these sales?

When I buy inputs for my production, I try to pick the lowest price possible... is this not the case with grain purchasers, as I believe it is, how is the CWB handling the risk management of these transactions?

It is VERY obvious in 02-03 that the CWB got caught pre-selling too much...

In the Oct 02 "Update from the CWB" the CWB said:

"The CWB has not this year's entire crop at last year's prices." (use of the word "entire" leads to... a good portion?)"We have been a cautious seller of wheat and barley since the spring when drought conditions first became evident."(Before the drought was "evident" the CWB were strong sellers of the 02-03 crop?)

The resulting prices from the 02-03 pool tell the real story.

Now we must all pay, again... for the 02-03 blunder... in 04-05... Low PRO's, an election in the fall of 04... and all the political baggage that comes with this federal and CWB election.

[TOM4CWB]

I missed sold in the CWB quote;

"The CWB has not SOLD this year's entire crop at last year's prices."

[boone]

Post:I get up every morning and hope we have to eat our words here. But I did that in 2002 and I got the wrong kind of 'A Belly Full', God help us if Toms notion is correct. No one markets well under the gun, but this would be a travesty.