Grain Markets Errol?

[Sodbuster]

Crop got bigger, but inline with estimates.

[errolanderson]

Rate cuts, rate cuts, rate cuts . .

Central bankers continue to live in the Land-of-Oz . . . Economies are in stall mode. China stock market now at a 5-year low.

A steady dose of reality is about to hit bankers as consumers completely tapped out.

And a U.S. stock market rally fueled by greed. Commodities have sent a stern warning that hasn’t even been quoted in the equity world. Errol’s Commodity Wire on substack.com

[errolanderson]

Oil Selloff Continues: WTI oil now threatening to break $70 per barrel on record U.S. oil production. Alberta WCS oil now approaching $49 per barrel. OPEC feeling-the-heat. Trend remains down.

Key support for WTI appears technically near $63.50 per barrel on continued selldown. This suggests WCS may slide into a $40 to $45 per barrel range. Fuel prices appear heading lower (IMO) . . . .

[wheatking16]

YEs. We have a 1000 gallon and 4000 gallon that we can use for winter fuel.

We fill the 4000 gallon tank from the 750 BBL tank inorder to be able to track our use. Really hard to understand what is left in the tank otherwise.

We bought 60000 L last spring and had fuel left over. on 5800 acres. With a larger crop we would likely need a bit more fuel but interesting to know the L/acre of our farm. A little over $10/acre.

Our first year we filled at 50 cents/L. Been a guessing game ever since but seems like we save about $3000 per year on delivery costs on 60000 L.

Don't rush to fill the diesel tanks.

[Taiga]

Was quoted $1.34 this morning delivered, thought that was too high.

[dave4441]

Was quoted $1.34 this morning delivered, thought that was too high.

Rack pricing today is about $1.05 for superbee loads plus 5-6 cents for delivery. So i would say 1.34 is extremely high. But the spread isnt normally that great. usually 6-8 cents/L

[Taiga]

I am a long way from Regina and Edmonton though. But $1.34 was all in including taxes. Still aiming for $1 delivered. Bought a 400bbl tank.

[shtferbrains]

Rack pricing today is about $1.05 for superbee loads plus 5-6 cents for delivery. So i would say 1.34 is extremely high. But the spread isnt normally that great. usually 6-8 cents/L

Where do you find the Rack pricing and where is the FOB?

[Taiga]

[url]https://www.petro-canada.ca/en/business/rack-prices[/url]

[url]https://www.shell.ca/en_ca/business-customers/app-rack-pricing.html[/url]

[errolanderson]

Bitcoin crashing tonite, down 8%.

Watch crude oil. . . the elephant-in-the-room

[email]errolanderson@substack.com[/email]