HRS what a night!

[Fransisco]

The CWB's basis, FPC, Flexpro etc are designed to mimic the open market. They get you out of the pool but that's about it. Yes you get to pull the trigger but they are very uncompetitive and still a poor substitute for an actual open market.

[samhill]

Apparrently there's no way to explain it to some
people. The CWB forces some Canadians to sell to the
CWB. but not all Canadians. It is called discrimination.
The fact that the CWB does not return decent prices is
the reason for dissatisfaction, if we got above
world/market prices , likely wouldn't complain.
All of the options do not replace freedom.
If the CWB would allow open market competition there
would be no complaints. Otherwise its a fascist
program.

[charliep]

Will note the first post is about the rally in wheat overnight and carrying on today - market is trading/not limit up.

Will note a favorite expression from a friend (Ken Ball/Union Securities) - REWARD RALLIES WITH SALES. Can complain about CWB programs another time but this is an opportunity to price some wheat using CWB programs.

Your risk factor is this is a short covering rally. Wheat buyers are scrambling to cover wheat they thought they had booked from Eastern European sources. Once this business is covered, your risk is prices will return to somewhat lower levels.

Look for basis to widen on fpc contracts - CWB will factor in risk on this rally. A time that highlights the strategy of separating basis and pricing decisions. Anyone who locked in a basis this spring will be looking at close to $7/bu for 1CWRS.

[Choice2U]

As per Charlie's comment, I plan to FPC when I feel the US market is near the peak so I will go to bed with the CWB and ask for vaseline. Had I done a December basis contract on July 13 I could have locked in a 21 cent over basis but now the December basis is -0.03 cents. I guess the quality of my grain just dropped as the CWB increases the discount for my grain when the US market goes up....And you wonder why those asking for choice get pissed off when supporters say "just use the CWB programs"...What a farce as these programs are set up to support the pool ever since their bonehead blunder in 2008. There's my rant!!!!

[gregpet]

Agstar, sold my canola, oats and sw wheat @ profitable levels according to our farms costs. No bs programs to sign up or hoops to jump through. No complicated programs to try to figure out out designed by some wanna be beuracrats from Winnipeg that use numbers taken from who knows where to take an inflated basis that does not reflect the real world. Do you actually understand this or are you still caught up in the fact if I sold @ the high or low or average. I sold my wheat above the CWB price which is always lower than average which has been proven to be fact by Francisco and others many times using real world numbers.
Do you know how hard this was to type on a BB?

[charliep]

For what it is worth, the CWB has updated their historical price charts to August 3. A picture is worth a thousand words. Scan down to the basis charts as well as the actual fpc/futures ones.

[URL="http://www.cwb.ca/public/en/farmers/producer/historical/pdf/2010-11/2010-11fpcbpccharts.pdf"]historical CWB charts 2010 11[/URL]

[burnt]

@gregpet - yyou will be happy to learn the the new BB comes with a slideout keypad . . .

[jensend]

you don't suppose putin and friends loaded up with longs and calls before the announcement do you?

[Choice2U]

US Minn price up $1.89 since July 14....CWB FPC up $1.30 so somewhere along the road my Canadian premium wheat lost 59 cents/bu in 3 weeks...Thanks CWB!!! Oh but I can still take what is behind Pool door #1 presently at $6.12, take FPC door number 2 at a 59 cent deficit to US farmers for better wheat or choose door #3 ie. a basis contract which has already eroded 46 cents in value for what reason???

[gregpet]

Burnt, I have the 8330 with the actual keypad, but tiny keys and impatience do not go well together.