08 - 09 Fixed Price, something not right !

[boarderbloke]

just checking the new crop fixed prices, and something doesn't seem to add up to me!

HRW
Jan 21st 9.75 US / 10.12 CAN
Feb 05th 10.24 US / 10.35 CAN

HRS
Jan 21st 10.35 US / 10.74 CAN
Feb 05th 10.44 US / 10.55 CAN

the price for HRS Feb 5th does not correspond to the movement in HRW. the exchange rate for HRS and HRW would both be the same. all else being the same, and using a ratio formula to calculate, Feb 5th HRS should be $10.79 !

am I missing something?

[TOM4CWB]

BB

It sure looks close... both are in proportion to each other on the exchange.

[boarderbloke]

what i was trying to point out was that the HRS Feb 5th US price increased by $0.09, while the CAN price dropped $0.19 ! But in the HRW the Feb 5th US price went up$0.49 while the CAN price ALSO went up( by $0.23) with the same exchange rate being the same between HRS and HRW, this should not happen! one should not go down, while the other goes up.

[TOM4CWB]

BB,

The exchange spread looks correct on both HRS & HRW.
Jan 21st = $.37 Feb 5th = $.11
The CDN $ has come up significantly between Jan 21 and Feb 5.

The futures pricing also looks to be accurate.

[TOM4CWB]

BB,

I trust you have seen that the HRW has come up $.49/bu, where the HRS has only come up $.09/bu over this time frame from Jan 21 to Feb 5.

[boarderbloke]

I have, but why has the HRS US price gone up $0.09 while the HRS CAN price has gone down $0.19

[TOM4CWB]

BB,

Straight exchange difference.