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Good moves in wheat today

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    #1

    Good moves in wheat today

    Hopefully has some legs
    Tags: None
    #2
    Originally posted by furrowtickler View Post
    Hopefully has some legs
    Would be nice to see sales reports to know how much is moving...must be substantial since railways are patting themselves on the back.

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      #3
      It would be good to average over $7/bushel. This year looks like it will happen.

      Comment

        #4
        Originally posted by Oliver88 View Post
        It would be good to average over $7/bushel. This year looks like it will happen.
        Can now contract new crop (21) SRWW for $7.65.

        I don't mind forward pricing spring-planted crops, but winter wheat - risk - a lot can happen to a crop over the winter and spring.

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          #5
          It does illustrate how nervous the market gets about Russia though. This market could easily tip over now. First half of next yr could get interesting if we still have drought in the northern hemisphere , dumb question hope doesnt denegrate into brawl but is there any correlation between dryness in Russia and canada

          Panic about next yrs crop already, even while this yrs Russian crop gets bigger. Just illustrates the dominance of Russia in global wheat pricing.

          Please please begging dont start climate change argument. Genuine question

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            #6
            September production estimates below (with the % change from last year in brackets):
            Wheat: 28.9mmt (up 91%)
            Barley: 11.2mmt (up 25%)
            Canola: 3.4mmt (up 47%)
            Oats: 1.7mmt (up 93%)
            Chickpeas: 0.7mmt (up 152%)

            Really find it hard to disagree with these figures.

            Probably add another 1.5 mmt to wheat barley and canola totals speaking whole tonnage not 1.5 of each.

            Gut feel after rains last 10 days

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              #7
              Last comment your getting sick of me....

              Exporters are also busy accumulating for bulk wheat exports in a rising market, with Australian wheat landed into South East Asia now nominally priced a few US dollars per tonne below Russian wheat.

              Emerald Grain managing director David Johnston said South-East Asian interest in Australian wheat had strengthened now that Russian wheat values had risen over last fortnight.

              Australian wheat was most expensive innthe world a few weeks back appears russian wheat is now hence buying ours. Said a week ago exporters doing business.

              Exports out of Canada moving?

              The quality of Russian black sea wheat must be ok or even good this year? They lifted there game?

              Guessing blue water costs similar from australia and russia.

              Havent kept up with baltic dry index lately

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                #8
                Originally posted by malleefarmer View Post
                Last comment your getting sick of me....

                Exporters are also busy accumulating for bulk wheat exports in a rising market, with Australian wheat landed into South East Asia now nominally priced a few US dollars per tonne below Russian wheat.

                Emerald Grain managing director David Johnston said South-East Asian interest in Australian wheat had strengthened now that Russian wheat values had risen over last fortnight.

                Australian wheat was most expensive innthe world a few weeks back appears russian wheat is now hence buying ours. Said a week ago exporters doing business.

                Exports out of Canada moving?

                The quality of Russian black sea wheat must be ok or even good this year? They lifted there game?

                Guessing blue water costs similar from australia and russia.

                Havent kept up with baltic dry index lately
                Great update and info!!

                Wheat movement has been brisk to say the least out of canada so far. (Our crop year starts August 1 and our wheat exports are up 31% year over year).

                Ultimately I think you guys are going to eat into our market share once you start getting your big crop off (which you deserve after 2 years of shitty crops)

                High veg oil prices have made the Russian farmer agressive sellers of sunflowers and have been able to hold back wheat for a higher price. (A really good thing for us all)

                To me feels like prices are higher than fundentals suggest ......there is a lot of managed money in these markets we have not seen for year. I'm not sure how long they stick around for.

                Again, thanks for your usefull input into a forum that needs more of it.

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                  #9
                  Nice green moves again in wheat this morning....giddy up...I hate getting excited about this because they fall quicker than the moves up...gravity I guess....

                  Friday may be red...due to profit taking ...but a good week.....

                  Comment

                    #10
                    We need more of the export price trickled back to the farmgate.

                    In my opinion current wheat prices should be $7 and further out to July, $7.50.

                    There's a buck missing nearby and fifty cents further out.

                    From a dumbfúckledfarmer, might be some trademark infringement there.

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