$ 8.00 wheat

[malleefarmer]

Rough calculation wheat here in aussie dollar terms rose about $11.60 with futures move.

My guess prices here today up $2 to 3

[Bowerpower]

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.

Just funny how they all seem to do it. Coverage of all the graincos happens at the same time/day.....

[farmboy44]

Just funny how they all seem to do it. Coverage of all the graincos happens at the same time/day.....

Yes, like on days the futures contract that they ALL use goes up 20 cents per bushel.

Are you even aware that today the most important usda report of the year was released? It’s historically one of the most volatile days of the year. Yet you have the audacity to claim collusion because they all bought a lot of grain today as anyone would’ve expected them to given how friendly the report was forecasted to be. Did you sell any today?

And we wonder why we are labeled as a bunch of complainers..

[farmboy44]

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

Hey bower what’s your analysis on the collision these same companies are partaking in as they all improve their basis on canola as futures continue to rise?

[Bowerpower]

Hey bower what’s your analysis on the collision these same companies are partaking in as they all improve their basis on canola as futures continue to rise?

First off I’m not complaining. It’s just the way it is. Very rarely do local cash bids get the full benefit of a futures rally in wheat. Canola basis improving. Well a lot more domestic use. Way more crush plants help basis. Far less processing in wheat. Yes I am foolish not to think grain co have my best interest in mind. By the way I have five terminals within 100 km. And unless some special pops up they are usually within 10 cents of each other...

[malleefarmer]

Collusion......Delusion........

Farmers and grain marketers have similar trade patterns just always on opposite side of the ledger in rising markets and falling markets.

Cant have a market without buyers sellers marketers and volatilty and basis.

Amazing over years read all the USDA haters they know jack shitz etc etc not a peep from them this morn8ng even praise.

Ps not referring to this forum.

End of rant.

[farmboy44]

First off I’m not complaining. It’s just the way it is. Very rarely do local cash bids get the full benefit of a futures rally in wheat. Canola basis improving. Well a lot more domestic use. Way more crush plants help basis. Far less processing in wheat. Yes I am foolish not to think grain co have my best interest in mind. By the way I have five terminals within 100 km. And unless some special pops up they are usually within 10 cents of each other...

Your surprised that a handful of different entities marketing the same product in the same area with basically the same fixed and variable costs to the same buyers have similar prices? Please tell me why they should be more than 10 cents apart?

[Bowerpower]

Your surprised that a handful of different entities marketing the same product in the same area with basically the same fixed and variable costs to the same buyers have similar prices? Please tell me why they should be more than 10 cents apart?

Silly me. They all must make the same sales to the same buyers for the same amount and need to fill the boats at the same time.

[farmboy44]

Silly me. They all must make the same sales to the same buyers for the same amount and need to fill the boats at the same time.

Are you suggesting their buyers, timelines, and prices aren’t similar on the other end of the transaction? I can’t tell if your even serious right now

[farming101]

Your surprised that a handful of different entities marketing the same product in the same area with basically the same fixed and variable costs to the same buyers have similar prices? Please tell me why they should be more than 10 cents apart?

Same Grainco at different points within 70 miles of farm is 29 cents difference for #1 13.5 wheat. It pays to follow local bids. You don't know what you don't know....