WCWGA launches action against CWB

[malta]

No. Will do one of two things.
1. Wait to Aug 1
2. If the Act passes and the band of 8 is tossed, may sign a B if fixed price is fair.

[Hopperbin]

I believe its Jan 2012 when open market fixed prices come out for new crop. Look at Charliep's usa prices chart and decide from that, is the risk worth it?
One thing for sure is if we had an open market much higher prices would have been availlable to us and a larger chunk of our storage would be gone now at higher prices instead of sitting on it all wondering what to do with it. Local feed prices are higher than everything except 13.5 cwrs number one and higher all durum and of course malt barley.

[charliep]

Realize a political question and not a market one but have to highlight something for anyone with an FPC. Spreads are narrower on initial payments than the current PRO. If adjustment payments were made today (won't happen any time soon), the protein spreads are likely to widen. If you have 1/2CWRS 12.5 protein or lower, make sure you sign the "A" series and deliver ASAP. If you going to hold wheat, store the higher protein.

From a previous thread, compare low protein 1 and 2 CWRS to the local feed market. 3CWRS/other classes store or sell domestic. FPC contracts - sign an "A" series and deliver. A record year if I remember right for FPC signup.

[Braveheart]

We have signed an A series contract. We need the cash flow. There is no guarantee prices will be higher next year. I would like higher wheat prices, but they are what they are. We're pooling ours this year as taking an FPC with the moisture we had going into last winter left too much risk. Basis levels with the FPC were and are insanely high, so we'll pool for now.

If you can afford to wait till next year to sell wheat fine. But manage the price risk somehow.

[rockhound]

Braveheart you say you need cash flow which we
all do but if it's like last year most of my wheat
didn't move till July. I understand the price can go
either way I just think if I cash flowed last year I
can do it this year and not give the board a
penny.

[food4u]

Soon as I can,I will be taking out a membership in the WCWGA. In the mean time,way to go...

[Braveheart]

Rockhound, if you can cashflow it great. Everyone's needs are different. That's why we need marketing freedom, one size doesn't fit all.

Our wheat moved well last year, I expect the same this year. I do push hard for delivery though.

I can't pretend to know your business needs but here are some other thoughts on our decision. First, we are fairly highly leveraged. Bankers don't like it when you have loans that could be revolved and you're not selling grain because of "ideaology". Also, I'm always concerned about storage losses. we also want to get work done. We have a decent size cow herd and don't want to be moving grain next summer when we should be haying.

I just like turning grain into cash. Postive cash flow is more important to us than profit. Sound crazy? Profit can be a mnipulated number but positive cash flow is always real (at least to us).

Remember Rockhound these are just our thoughts for us. Do what works for you. I don't blame anyone for not wanting to deliver to the CWB right now. Oberg and his clown troup don't inspire confidence.

[Fransisco]

Oberg and company seem to think they are above the law. The wheatgrowers are going to put that one to the test.

[bluefargo]

We have signed an A contract.We really have to move some product. We don't have the option to sit on it.

[BreadWinner]

Would you give a bunch a thieves, a blank
cheque. I'm afraid giving the CWB anything right
now is just a donation.