Wheat

[bucket]

I would be happy if they would report their sales like the US does every day...

How can you have the railways reporting record movement and no one knows where the grain is going?

[malleefarmer]

Mallee, this might be a schtoopit question, but does Australia have a futures trading platform for wheat, canola or other grains?

We do for wheat but liquidity is the issue.

Can be hard to get in and out of positions apparently

Can you give me on farm price farma that you would roughly receive for standard wheat and canola Frieght etc you haulage to train orcelevator taken off

[farmaholic]

We do for wheat but liquidity is the issue.

Can be hard to get in and out of positions apparently

Can you give me on farm price farma that you would roughly receive for standard wheat and canola Frieght etc you haulage to train orcelevator taken off

Local wheat bids 13-13.5 Protien is about $6.00 to $6.20 now til January.

Rumblings of $7 wheat July 2021.

Canola $10.80 to $11.50.... now to July 2021. Steady carry in futures. Probably see spot increases("specials"....lol) when tonnage is needed then fall back down to discourage delivery.

Those are delivered prices, we self haul but that isn't free either. Custom rates must be $10/tonne for our distance to terminal.

[farmaholic]

I subscribe to a Broker newsletter and hogs and cattle are eating wheat worth approximately $7/bu delivered to feedlot/ hogbarn.

Now I know what the pigs and cows will eat. Wouldn't corn or barley supplant wheat in the ration.

What are you being offered for milling wheat?

[Oliver88]

Good increase today. World wheat supplies are questionable.

[Guest]

Good increase today. World wheat supplies are questionable.

no, no ,oliver, that is not right ? don't you listen to the experts ? watch the news? , read our "farm newspaper" ????
the world is "awash" with wheat " *
see what they have to say when this bitch drought comes full circle , next year
can't buy a rain in the "lesser swamp"

[Oliver88]

Is Russia and Ukraine in a drought?

World was “awash with wheat” two months ago.

[farming101]

Not looking for a lot more in the near future. Maybe 618.25 Chicago Dec20.

[Oliver88]

Not looking for a lot more in the near future. Maybe 618.25 Chicago Dec20.

Are we now in the territory of put options?

[farmaholic]

Are we now in the territory of put options?

Do you think the market will fall? Because you want to "spend money" on a put.....

The price I was hoping to achieve in July is getting to be a reality in the near by months.

Where is it heading?

[flea beetle]

Do you think the market will fall? Because you want to "spend money" on a put.....

The price I was hoping to achieve in July is getting to be a reality in the near by months.

Where is it heading?

UP! And I believe this is just the start. But I’m no expert, just a dumb farmer.

[malleefarmer]

Argie cut a million tonne frommestimates and ongoing dry in northern hemisphere almost as awhole it seems

[malleefarmer]

West australia here most likely will cut 2 million tonne from total grain, wheat barley canola.

Bal@nced out by extra in south andceast australia no change to total australian estimates

[farming101]

Differences out there as to the closing price for Dec20 Chicago. CME says 6.1925 so seeing as how it's their exchange guess I'll go with that. Which put it above the 6.1825 I mentioned last week.
A reset today.
Kansas took control again. MW followed.
I am thinking MW may follow Kansas lock step. Maybe on the way up anyway. It might give up more on the way down.
MW still has carry in every month so if storage is not a problem and cash is not a problem everything else equal there is of course some money in selling the deferred. But it's getting less and less.
Maybe comes down to how much is it worth to get some moved before next summer.
Looks like spreads between Dec bids and July 21 bids have narrowed about 10 cents since early Sept.
Basis through all months out to July 21 are more or less level.

Chicago has major resistance around 6.28 Dec. Kansas has more room to go higher and MW seeing as how it is the laggard has the most room to move higher. MW went through some minor resistance today.

Demand should be good for the time being. 45 ships out west. 18 were sent off this past week but 20 arrived!

[malleefarmer]

Futures rise currency down equated to about $14.10 risein aust wheat prices.

Traders lifted between $11.50 and 12.10. Not to bad a little erosion of basis.

Some pulled all bids ie not posting prices today

Barley up about $5 so about right with normal spread betweennwheat and barley.

Guess you guys se3n similar moves today with your cash spot prices