Shany I suppose no one could have posted the currency risk at a better time than you did.

[Hopperbin]

The dealer just mentioned if I thought the dollar was going to fall I could get a certified check in American funds now and give them the check when dryer arrives. Actually not sure if that really protects me from a falling dollar or not, must talk to the Credit Union about that because I would think that the exchange would be worked out on the date the check clears I really don't know about that. Will check the clearing house I found them in the phone book, thanks. Not sure how the dealer handles currency exchange either so maybe if I pay them in Canadian and use what ever calculation they use maybe that is best. I will ride it out for now only a week away. Cotton I agree I am a dumb farmer, I can live with that

[mbratrud]

You should be able to open an account with your bank to hold US Funds. Have your Bank put the required funds in your USD account until the purchase is completed. Or if you have a futures trading account just have your broker move funds to the USD portion of your account.

[dave4441]

I handled a similar transaction for a friend for about $100,000 US and saved $3000 dollars over the credit union rate (they have no volumne), by shifting it thru custom House. It is very simple and they can give you a US dollar bank draft (paid from CDN bank) to hand to the guy on set up or delivery. Worth the call. The seller will do the transaction for you but will be in his favour with some juice. Of course you could get lucky and the CDN dollar be stronger at time of delivery.

[checking]

It's a $1.00/month to maintain a US $ cheque account at our local Credit Union.

On a $50,001.00 minimum Cad to US the exchange rate is .25%, or on that amount $125.00 if you ask them to phone in, and do the transaction through a currency broker. That's steep if you have a compulsion to do it frequently as a trader, but liveable if done a few times a year as a bargain hunter that cross border shops for farm purchases.

If you do not ask, the in house rate is 2.5% which is an "ouch" amount.

[Hopperbin]

Oh thanks everyone, a great learning experience for me and a money saver I am thinking. wish I could say drinks on me, and a double for Cotton if he is not passed out yet.

[cottonpicken]

CHEERS,just hackin on ya

[charliep]

For what it is worth, here is reuter's article on the loonie.

<a href="http://www.reuters.com/article/ousivMolt/idUSTRE59K4VV20091021">reuters</a>

[shaney]

Things seem to be falling in line fairly close to the
comments that Matthew Strauss forecasted in the
audio interview. It seems that the sudden pull back
is expected but if Matthew is correct we should
expect a hard snap back to par in the same
fashion. this could be a good hedging opportunity
for exporters.

<a
href="http://realagriculture.com/2009/10/15/curr
ency-outlook-matthew-strauss-rbc-capital-
markets/"target="blank"> Matthew Strauss-RBC
Capital Markets Interview. </a>