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$ 8.00 wheat

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    #46
    He’s still pissed about selling all that canola from the combine

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      #47
      Minn wheat up 4, Cbot down 4, are we going to see Minn wheat overtake Cbot again? Did something come out in the news to cause this? June delivery to $7.75, $8.00 almost there.

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        #48
        Wheat getting excited this morning ahead of USAD.

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          #49
          Originally posted by Sodbuster View Post
          Minn wheat up 4, Cbot down 4, are we going to see Minn wheat overtake Cbot again? Did something come out in the news to cause this? June delivery to $7.75, $8.00 almost there.
          14 pro ?

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            #50
            Russia increased there export tax to 50 usd per tonne

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              #51
              8 might be on the low side if dryness on the plains continues.

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                #52
                Originally posted by furrowtickler View Post
                14 pro ?
                #1-135
                If priced today would be #7.92

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                  #53
                  Originally posted by Sodbuster View Post
                  #1-135
                  If priced today would be #7.92
                  Ok thx 👍

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                    #54
                    Local widen their basis on higher prices....

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                      #55
                      Originally posted by bucket View Post
                      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...

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                        #56
                        Originally posted by bucket View Post
                        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.....

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                          #57
                          Originally posted by Bowerpower View Post
                          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?

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                            #58
                            Originally posted by farmboy44 View Post
                            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

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                              #59
                              Originally posted by Bowerpower View Post
                              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.

                              Comment


                                #60
                                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.

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