Wheat basis...

[farmaholic]

Off Minni @ $5 U.S. @ 1.29 fx = $6.45 CAD. Local bid of about $5.55 for #1 CWRS 13.5 Px .....basis of about 90 cents/$33 per tonne....old CWB days had us(here) at about $65/tonne. Am I missing something? If not....wheat basis isn't horrible but the wheat price is!

[bucket]

7.94 at the west on a boat. You do the math.

And if it's not my grain after the slides open ... why am I paying the freight to the west coast.

BTW prairie canola price went down 10 a tonne but the west coast price is up 10 in the last week.

[farmaholic]

.....my calculator says about $2.40 difference, now that is a difference.

Anyone else care to comment?

[boarderbloke]

DEC MGE Wheat is only $4.93 1/4

[Klause]

We are Better than $5.23 to $5.35 CAD they are getting at US elevators for HRS right now.

[bucket]

It's all optics. Nothing has really changed.

The better question is....where did all the money go and where is it going now?

We don't have competition in rail rates ...never will...grain cos don't have to report sales. ..blah blah blah.

[boarderbloke]

currently $4.92, breaking well through the recent support which was holding for 3 weeks, at $4.97 during the last two weeks of July and first week of Aug.

After trading closes, look at MGE DEC Wheat , Daily chart. pretty sad picture. Where's the support???

[tweety]

and if we researched more and used even more fertilizer and fungicide we can get the price down to 4$

Isn't that the goal?

[farming101]

MWZ support at 4.81, then 4.65.

I did think back in early July that 4.40 was in play. I guess we might just find out.

[agchat]

and if we researched more and used even more fertilizer and fungicide we can get the price down to 4$

Isn't that the goal?

That is about right tweety. Relation of mine says he just cannot figure out why farmers do not understand three words. Supply and Demand. To wait and hope for a wreck somewhere else in the world is just stupid. By the way, relation is a very smart business man.