Does any one have the starting basis leveles the CWB had the last two years when they offered the first basis in April?
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I just happen to have what you are looking for. These are the basis levels for CWRS wheat on the first day offered:
Apr 27, 2000 - $8.35 (over)
mARCH 22, 2001 - $18.13 (over)
March 28, 2002 - $16.69 (over)
That what you were looking for? -
Rain;
Good topic, just how much money is the CWB making on these basis contracts?
On July 26th 2002, the CWB offered a forward price of $222.13/t... the futures adjusted for CDN$ was $224.76.
Now today, the 21st of Jan, 03, the adjusted futures are $217.59/t.
Yet the CWB says this same wheat (#1CWRS 13.5) is worth over well $265/t (Producer Direct Sales price to the US.
Since the CWB does not have enough wheat of #1and 2 to sell to just our premium markets, the CWB is making... get this...
Well over $40/t on the stupid farmer like me that sold through the CWB PPO contracting programs.
Sure is sweet for the pooling accounts and the contingency funds... I have contributed this type of money to the CWB for 3 years running!
Now... that is marketing choice at the CWB's best, I am told!
What do you think Rain, quite a deal, isn't it?Comment
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