The 2011/12 contracts are out today. The basis looks to be the best in recent years. Im looking at booking basis on some CWRS but dont know if Im missing something. Any thoughts?
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am at Grain World. Will update when I get home. The following is the link.
[URL="http://www.cwb.ca/db/contracts/ppo/ppo_prices.nsf/fixed_price/fbpc-wheat-2011-mhrs-20110228.html"]first 2011 crop year fpc[/URL]
<a href="http://www.cwb.ca/public/en/farmers/producer/historical/#basis">historical basis</a>
Others thoughts? -
Given the volatility in the markets, who knows what the prices are going to be like? The convoluted nature of the basis with the CWB makes it nearly impossible to predict. That said, prices yesterday for FPC were good IMO. $9.64/bu. Vancouver makes for some decent returns next fall. Positive basis too... that is always good. Haven't looked at the historical levels for this time frame yet but, seems decent as well. I'll be taking the force majeure if we sign some up, last fall was so painfull with the frost turning 95% of our CWRS into feed.Comment
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Having looked at the Basis levels from the past... maybe not so good yet.
Seem to be missing $10 - $20/tonne.
Not a real whiz with the charts but if they cris-cross again( futures and basis) maybe these levels look good given the strong futures prices.Comment
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