Wheat

[farmaholic]

So, given the 30%(ish) S/U in world wheat supplies, what is a decent price for HRS with decent Px?

We are supposed to have a premium product used to blend with(carry) other lower quality wheats. Are we getting a big enough premium for it and should we continue to grow it(CWRS) to try and differentiate yourselves from the lower quality run of the mill wheat grown the world over.

$7.00 bids for #1 CWRS 13.5 Px on the horizon for further out months with in the current crop year.

What were you hoping for or expecting?

[Robertbarlage]

$9.00

[Robertbarlage]

last June so could happen

[farmaholic]

30% S/U should keep somewhat of a lid on prices no? As rising tide raises all ships wouldn't a low tide strand all ships or a receding tide lower all ships.

[seldomseen]

I think hard red wheat is the best bet for me and try to grow quality. If you farm close to an ethanol plant or a feed market that likes cps then maybe try to grow bu.

As for price I was at the Sask. wheat commission meeting in Tisdale yesterday and the speaker that talked about markets said that No 1 13.5 would be selling for about 8.20 right now if the railroads were able to move grain.

[farmaholic]

Anyone else want to take a stab at what they think wheat prices should be on the Prairies...

Based on MGEX values
Based on AAFC published port "asking" prices backed off to the Prairies with a fair basis deduction
Based on US Pacific Northwest published prices
Based on S/U and S&D
Based on opinion, lol

I think $8.20 could be bullishly optimistic, but what do I know.....

[Oliver88]

I think protein discounts will shrink heading into summer when inventory shrinks and railroads start moving grain.

[seldomseen]

Yes with the way the grain industry works here I think 8.20 is a bit bullish but i can always hope.

[farmaholic]

I think protein discounts will shrink heading into summer when inventory shrinks and railroads start moving grain.

O88, at one terminal I'm already seeing them shrink.

[Oliver88]

O88, at one terminal I'm already seeing them shrink.

How much is discount at now?