any views on the soft wheat markets for new crop?

**BTO_farmall** · Jul 7, 2012, 01:06

Hop, Hows Ole' Croney's Crop Lookin Up There??????????? What's He Runnin fer Equip This Year????????

**charliep** · Jul 7, 2012, 07:28

Nothing specific to soft wheat except will follow corn.
Some mixed comments out of South Dakata on early
planted spring wheat. Winter wheat harvest in the US
well under way.

You will need to follow eastern Europe carefully as
they sort out their crop size. Things have not been
perfect in the Ukraine and Russia. Early indications
are that the government is starting to look at
exportable volumes and prices have started to rise
there. You guys can read your newsletters/check
your own sources.

Shipping and elevator capacity have basically been
booked by canola. Virtually no wheat business on the
books. Wheat will be an even slower mover in the
new world than it was in the old one given everyone is
trying to sort out what the new system is, how they
manage logistics/risk and finally what the quality of
this years crop is. This back up in the system will put
pressure on Canadian wheat prices (domestic will be
the only game in town early fall).

On your specific question on soft wheat into ethanol,
watch corn and you will have a handle on prices.
Lack of movement on wheat in general could come
into play. My two bits.

**rhoff** · Jul 7, 2012, 09:10

Anybody seen or heard what crops are like in
north Dakota?i see on the drought map they
appear to be dry so I was wondering how the
durum down there is doing? Montana aswell.

**charliep** · Jul 7, 2012, 18:32

An early seeded crop and harvest is just beginning in
South Dakota and likely moving North. Heard a
comment about poor early harvest results and
sounded not very good. But the individual might
have been speaking their position. Reports I have
heard are good potential with the crop mostly mature
before the dry conditions hit. Likely not too different
than southern Manitoba.

**Hopperbin** · Jul 9, 2012, 10:09

Feed wheat picked up new crop bid at 6 bucks now. Seems the new crop gap is closing.

**charliep** · Jul 9, 2012, 10:37

From my chats with industry, it would appear the grain companies are using the run up in corn prices to book some South Korean/south east Asian feed wheat business off the west coast. Bascically any wheat that is available (including durum) that can be loaded in a unit train and used to direct hit a vessel arrival in Vancouver. Would be Alberta/Saskatchewan stuff. Will be an interesting world moving ahead.

**charliep** · Jul 9, 2012, 10:38

could be prince rupert as well (even more likely).

**Hopperbin** · Jul 9, 2012, 19:12

Local mill chickened out on the 6 bucks.

any views on the soft wheat markets for new crop?