pricing strategy on hrs.

[Klause]

Locked in a #3 12.0 protein wheat.. spreads in grade will be big this year.

Base grade as low as possible then benefit from the higher grade spreads

[wmoebis]

Does #3 12% cover cop and lock in profit?

[btjadenlepp]

Good negotiating. Not every grain company lets you capture the upside on grade premiums. What was the basis?

[Klause]

On its own; no. However when averaged with earlier high contracts yes. We need an average of 5.20 to cover cop and 15% margin. Our average is 5.97 with this contract and we will have upside yet depending on grade

[mbdog]

which grainco's posting grade spreads for current and future bids?

[farmaholic]

And what is the premium?

[fjlip]

At Pioneer 1 to 3 spread was $0.30 Aug 15, now at $0.60 today. Only going to get worse, and feed we will have to eat.

[Klause]

Can't say who were but spread over 1 buck between grades coming

[hobbyfrmr]

Cloak and dagger marketing. Nice.

[wakopa]

I did what the smart poeple on this site said was stupid. Locked in futures, my lowest is 7.10 up to 7.50 and when the basis drops one more time I will be even higher. 20000 bu on 450 acres wheat,