Americans have the NOLA price for corn and beans for all buyers and also the PNW price for exporters. I don't know what the mechanism is for publishing these numbers, government or private. At the same time maybe those numbers are indicators but actual sales prices are negotiated between buyer/seller. Are those prices at export facilities available to Canadians? We do have prices quoted for delivery to Thunder Bay.
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Alberta Wheat Commission launches project aimed at improving market transparency and efficiency
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You won't feel powerless after the new study.
Doesn't it make you feel all warm and fuzzy that the 2 national railways got fined less than what each farm has lost by this government refusing to address their mismanagement of implementing an open market?
And now someone is paid to explain basis.
Why not look 200 miles south and see what they are doing. That's where graincos are getting their prices from.
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Graincos in the states also have to report sales made at the end of every week.
No such thing in canada.
Sales made for September 2015 and beyond are reported. It adds transparency and probably helps with scheduling and infrastructure planning.
Not so in Canada. We reduce resources in the name of shareholder value.
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Where else are those "poor" grain companies supposed to recoup there extra expenses for demmurage risks of the past and future? I am tired of paying for the sins and incompetance of others. I thought when the grain fell through the grate it was no longer mine anymore in this new system. Make those accountable for the mismanagement pay out of their own margins not mine for **** sakes. Assholes....
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And those future sales are more than likely filled with offsetting contracts with farmers that will be filled on time or sent to government warehouses.
We are so far behind the farm leaders think we are ahead.
Maybe more research dollars will solve the problem?
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Option #3: buy or sell grain on paper or buy an option on one of the exchanges.
To be perfectly clear, at this time that is a bad option for farmers in Canada because the only functioning exchanges use foreign currency. To be truly hedged you need to cover FX risk too.
Even then, the US HRS market is a lot different than Canada's. The US exports a fraction of their crop each year, Canada exports most of it. Big difference.
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Farming101
By doing so doesn't correct the problems. It only gives thdm what they want... IMO, your option three is only my option one with you gambling at the Futures and Options Casino again. You just took on more risk, I guess thats why they call it risk management.
Why would our Graincos want a system of reporting? That way we can keep track or calculate how badly we're getting taken advantage of....
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An open market needs price transparency. One can only hope that this new initiative will grow into something truly useful.
If not we'll be dealing with price fluctuations like we see in flax all the time now. $12 one week, $14 the next.
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Farmaholic, without proper reporting of what could be called the business of the nation there is no price transparency.
A true open market should mean that all players share risk(it's impossible for all players to share risk equally). And a sustainable open market should have a way in which risk can be offset or limited.
Wheat farmers have moved from a lower risk environment with smaller movements in price and overall lower prices to and market environment with huge risks.
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Isn't this why the cwb was created 70 some years ago? Are farmers smart enough to change it this time around? Somehow achieving "power"?
Are the minutia trying to be answered while the macro issues are ignored?
Will knowing what the actual basis is help make it a good one or to the farmers benefit?
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Dont think Ritz or Hermanson will change anything. Richardsons Parrish Patterson families invite them over for tea and biskets in downtown winterpeg and tell them everythihg is just fine, have some small talk, ask gerry how the ostriches are doing, and maybe promise them some kind of consulting job after retirement. And as they leave, they all have a good chuckle.
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