$ 8.00 wheat

[agstar77]

8 might be on the low side if dryness on the plains continues.

[Sodbuster]

14 pro ?

#1-135
If priced today would be #7.92

[furrowtickler]

#1-135
If priced today would be #7.92

Ok thx 👍

[bucket]

Local widen their basis on higher prices....

[farmboy44]

Local widen their basis on higher prices....

lol...seen...bucket...replied...and...knew...it... would...be....negative...

do...you...expect...them...to...keep...basis...ste ady...after...largest...purchasing...days...of...t he...year...

[Bowerpower]

Local widen their basis on higher prices....

Always happens. Graincos never give the full futures rise on wheat bids. Wheat is a one f’d market. Collusion.....

[farmboy44]

Always happens. Graincos never give the full futures rise on wheat bids. Wheat is a one f’d market. Collusion.....

Its almost like they buy enough at one level due to strength in futures that they dont need to pay the basis they were prior to the rally?

If you buy enough fert to cover your needs @ $500/mt do you buy more when the rep calls you asking you to buy more at $500? or would you wait until he offers more at a lower price?

[Bowerpower]

Its almost like they buy enough at one level due to strength in futures that they dont need to pay the basis they were prior to the rally?

If you buy enough fert to cover your needs @ $500/mt do you buy more when the rep calls you asking you to buy more at $500? or would you wait until he offers more at a lower price?

Targets???? They have enough targets in system that if there is a futures bump they fill their needs and widen basis?

Well on fert if my needs are covered I’m not buying anymore. But i suppose if the price gets low enough I secure more supply for the next crop and store it.

I am a big believer in storage on both ends. Gives me some control or at least I makes me think I have some. Lol

[farmboy44]

Targets???? They have enough targets in system that if there is a futures bump they fill their needs and widen basis?

Well on fert if my needs are covered I’m not buying anymore. But i suppose if the price gets low enough I secure more supply for the next crop and store it.

I am a big believer in storage on both ends. Gives me some control or at least I makes me think I have some. Lol

Great. You understand what coverage and position is for your needs, so you should see why a grain company uses the same mentality with their needs.

[Sodbuster]

I usually shop the basis first, then sell the futures later and if I don’t like the price I can look at replacing with paper. Currently I have contracted my basis for wheat and canola but haven’t pull the trigger on futures yet.