11 Dollar Wheat!

[charliep]

Given the July and September prices have not rallied as much and likely over 50 % of the 2007/08 is priced, I am going to guess an increase of about $25 to $30/tonne for all wheat including durum (1/3 of the rally in the US). No major changes spreads classes, grades and proteins.

No idea on barley. Too many variables/too much interference true market signals.

[cottonpicken]

My opinion is we went over our uptrend channel line hitting 11.05 and are now heading to our bottom line of around 10.60ish.The black boxes simply stepped in and started taking profits.

We need to drop below that to even start talking about any kind of reversal.

[cottonpicken]

Whoops should have kept more up to date on the markets.What a diverence 45 minutes can make.

Looks like we clipped 10.60 and bounced.

45 point swing in the past 18 hours.
Can you believe that charlie?

[freewheat]

I say up 4 bucks. They will blame the still strong dollar, the ppo's, the conservatives, and global warming. Maybe George Bush.

[charliep]

Makes me glad I am not trading. There is potentially $2000 of pain or gain in one contract (5,000 bu).

[ProFarmer]

Charliep our wheat should be up 100 dollars a tonne because we have always been told we have the best wheat in the world and our dear old wheat board always gets us the best price. LOL

[SASKFARMER3]

I second that comment, Were now 1/3 of the way through the marketing year actually past that and if the CWB is so great at what its doing and we have such a superior system in Canada ( I bite my cheek) then we should have a price for CWB HRS at least $100.00 tonne higher if not $122.35 for #1 HRS 15.5.

[silverback]

Do I not remember them saying they sell a little bit every month so that they always get the average yet highest prices due to their monopoly situation?

If that was in fact true the latest pro better be moving up in a big, big way.

I am getting old so maybe that is not what they used to say.

[Ron]

Did they really say "the average but higher"? My math textbook must not be the same as theirs.
I have nothing left but sarcasm and bitterness for the CWB debate.

SCREW THE CWB

[charliep]

Hopefully all are watching the price gyrations in the 3 US wheat futures markets - particularly if you sitting on an unpriced DPC/BPC. Absolute price isn't as interesting to me (high regardless) as the spreads between contract months and the 3 markets.