I am looking at the FPC for wheat tonight from the CWB and I like the futures price, but I find that the basis is quite wide. I am considering doing a futures only and fixing the basis later on, but I am curious to see what happened to US basis on wheat in the 1995-1998 time frame (last wheat rally).
On the US forums that I visit, most farmers are complaining of wide basis on their wheat sales also (60 cents to $1.15/bushel).
Would be interesting to see if the basis started to improve on the last rally as harvest pressure dimished.
On the US forums that I visit, most farmers are complaining of wide basis on their wheat sales also (60 cents to $1.15/bushel).
Would be interesting to see if the basis started to improve on the last rally as harvest pressure dimished.
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