Hard Red Wheat Price Question

[hobbyfrmr]

Just reading the latest Weber report . It seems at this time, Hard Red Spring wheat is priced at $4.84/bushel delivered to Saskatoon. My math suggests the first 41 bushels/acre of the crop will cover costs of production. Obviously a bad time to be sellingwheat. Is this a time to be buying call options to capitalize on upward movement?

[ado089]

This is a time to be examining your fixed costs and return on investment on variable costs. This is a return to the old normal.

[hobbyfrmr]

I am thinking this is the "summertime blues". Buyers waiting for the new crop to come in, holiday season so business slows down. This is the lowest price wheat has been in 5 years, I am thinking there should be a bullish correction, although media rhetoric would suggest the opposite. This is getting interesting. I hope this is not the new normal.

[Oliver88]

Minneapolis wheat has dropped $2 in three months since Putin temporarily raised the price.

How low will it go before bottoming out??

[fjlip]

Some basis improvement, the high was May 1st here at $6/ bu net to farmers. It's down about $1.40.
A record yield est from ND did not help matters.

[Klause]

I think hrs will settle around 5.50 local central sk price in Jan - March time line...


For harvest movement ideal booking was last spring... $6/bu could be had sept delivery.

[boarderbloke]

This drop in wheat prices must really be pissing the grainco's right off! Because they can't maintain their high basis, if they did so, the basis would soon exceed half the futures price, and it would soon be too obvious the gouging the grainco's are doing, even for farmers and media and ag bureaucrats not to notice that grainco's are colluding in.

Who will plant winter wheat this fall with the price of fertilizer and the amount needed to reach the protein levels to make the grade! If you don't make the protein grade for milling, then what price will you receive. Gets ugly under 11%

[cottonpicken]

Russia was finded fifty billion for the yukos thing one of putins guys said what does it matter war is coming to europe

[furrowtickler]

The spread from number 1 to feed is going to surprise a lot of farmers by late Oct with good number 1 going up a buck from today's levels

[Hopperbin]

Klause not saying contracting early is bad but if I have over 12 protien that shit will be worth something if not already sold for nothing. 2 dollars difference for same protien may teach you a thing or two. Anyways looks like you may have bin space for rent.