Opportunities in wheat are gone

[craig]

I notice with regularity in the market commentary that the analysts are dumping on HRS wheat. They claim opportunity in other grains is much better than wheat. So we had a strong rally in wheat last year that everyone but us seem to be able to take advantage of. This cause a strong increase in planting in the fall which now weighs in the market. It only reinforces the fact that producers need to be able to take advantage of opportunity when it presents itself. Usually that opportunity will happen in two crop years but again the CWB pricing options did not provide the opportunity to capture good values for this year.Don't you just love the system we operate in.

[TOM4CWB]

Craig,

Specifically in Winter Wheat... the CWB is an unacceptable reck.

In CWRS... while the performance in basis and fees deducted was objectionable... the tools to lock in the futures were reasonable. If these tools were transferable as they were in 2000 when PPO were first avaliable... they would have been much more useful.

In Canola, we are allowed to switch between IP and COmmodity... when we come up short. THe CWB can and should be expected to do the same between wheat classes... especially when all wheat continues to be sold through the same pool account.

[charliep]

Way to far down to get anything going but always intertesting for me to note how the pools are currently run across winter wheat crop years. New crop US winter wheat starts June 1 with supplies available during the summer. CWB crop year end is July 31 but the pooling period normally starts the end of July. Note there is carry in the current US wheat futures but there are still 4 months when old crop will be sold in competition with what is looking to be a very large US hard red winter crop (soft red is maybe a little less optimistic).

I will be very interested in the announcements on the daily price contract and whether the signup period/500,000 tonnes stays the same. This announcement should come sooner than later as is important information for decision making.

I will be recommending to use this program aggressively and hopefully help sell it out in June (assuming no major changes).

[charliep]

Mistake.

New crop US winter wheat starts June 1 with supplies available during the summer. CWB crop year end is July 31 but the pooling period normally starts the end of September (NOT JULY).

Still asleep.