Truly ugly grain prices

[checking]

Check out the grain price quotes at the Viterra website (www.viterra.ca). You'll probably need a password. Assiniboia feed peas listed at well less than 3.00 per bushel starting next May. How about $1.65 per bushel for current Oct and Nov Canola.
Its even worse at SE Sask delivery points with non board durum many cents less than $4.00.
If you want poorer quotes then try it costing you 95 cents per bushel to deliver Canola (IP 46P50). Is this what the present and the future holds; because I don't think farmers have yet even been affected compared to what may yet come.

[Ron]

Viagras quotes are screwy. Phone your csr to be sure. But yeah $8 canola sucks

[parsley]

http://news.alibaba.com/article/detail/europe/100015818-1-update%253A-egypt%2527s-gasc-buys-175%252C000.html

On Wednesday:
"Louis Dreyfus
60,000 tons of U.S. soft white wheat at $218.65/ton.
60,000 tons of Canadian Eastern soft red wheat at $201.65/ton.

Bunge
60,000 tons of U.S. soft red wheat, Canadian Eastern soft red wheat, or French wheat at $213.87/ton, on a cost and freight basis.
30,000 tons of Russian wheat at $179/ton. "

Pars

[TOM4CWB]

Checking,

I think you had better check again!

http://www.gov.mb.ca/agriculture/news/markets/grains/index.html

http://www.agric.gov.ab.ca/app21/grainprices

Do you work for a grain co (Obviously not for the big V : ) GRIN)?

[TOM4CWB]

Charlie,

That is quite a site Manitoba has @:http://www.gov.mb.ca/agriculture/news/markets/grains/index.html

Alberta Grain Commission take note... they have very good info... and thanks for the link on the price page to Manitoba!

Charlie perhaps AB/SK AG could get together and build something better than MB has!

[checking]

Took your advice TOM4CWB. My browser still says same. The question is if you took the time to verify; before you jumped to conclusions totally unconnected (and wrong) with my observations about grain price quotes.

[TOM4CWB]

Checking,

Those look like basis quotes... about right level...

Did you actually phone and ask your FBR?

SOmething does not add up... what is the internet link?

[charliep]

checking

There were some weird prices in company quotes
last week. Not sure why.

Alberta does put out a similar (not the same) price
list as Manitoba

http://www1.agric.gov.ab.ca/$department/deptdoc
s.nsf/all/sdd6248

Sask Ag. information location is

http://www.agr.gov.sk.ca/apps/MarketTrends/

[checking]

http://www.viterra.ca/portal/wps/portal/viterra

The above address should get you to the website. If you apply for a password you get access to the prices offered at each of Viterra's facilities.

One of the ways that a buyer can tell you that your product just isn't in demand is to offer an insultingly low price. Another is to post the line of products they handle; and leave the price blank. Personally I take that as a cue as it being a poor time to negotiate any sale. I suggest you'd be the first person to get anywhere near the price you'd consider to be approppriate (as a seller).
I have tried to cut and paste this information. This works perfectly in an email; but not when embedded in a reply to this forum.
Unless there is something drastically wrong with my computer system; the quotes I have mentioned are the same as those the whole world sees from the site mentioned.
There's at least one instance of a quote on this site saying that a bushel of Canola and close to a dollar of your cash; and I guess that they are ready to take it off your hands.

[charliep]

Likely 10th hand information (or perhaps
misinformation) but have heard canola quotes at
pretty high levels from other companies perhaps to
fill a vessel. Everyone needs to shop prices in the
current market.

I would suspect that the indication a company is
not buying canola at this time because their
current sales commitments are covered/already
have too much inventory to be a better approach
than offering insulting prices.

[charliep]

Perhaps this highlights the importance of having
cash flow and delivery needs thought out well
ahead of the fall and arranged through contracts.

It also highlights a good in that it appears that
grain companies are putting priority on taking
delivery of signed contracts first and spot sales
second. You guys will bring me up to date quickly
if I am wrong but a year ago there were a lot of
early fall canola delivery contracts that got pushed
into mid winter. Grain companies should be
accountable to delivery periods the same as any
farmer realizing stuff happens.

[checking]

Then get it first hand by checking it out yourself.
You do have a good point about picking up the forward contracted grains first. However; it has yet to be proven that contracting will be the salvation for farming profitability. There's an outside chance it will ruin some or many farmers if world economic woes stabilize at todays 60% off values; let alone the possibility that much worse may very well happen in the next short while.

[checking]

I get the distinct impression that not one person has ever looked at the Viterra website; and certainly not in the last couple of days.

[charliep]

I did look at Wednesday but not Friday. Have got comments on oct/nov canola but I haven't checked the reason. The IP canola in particular does not make sense. The edible yellow pea price was closer to $4/bu in select alberta points for next spring.

As Ron indicated, important to check with your csr.

[checking]

Thankyou for confirming what was said in the first post.
I did say feed peas at <$3.00 and never made any mention of edible peas.
When a company puts out price quotes; they should make sense and be accurate. What is published is a reflection on them; and if they wish to explain or apologize for any errors; thats in their court.
Just because I don't have a clue about what drives the markets doesn't mean that my gut instincts aren't as close to histories outcomes as those who spend their time trying to figure out the latest high finance scheme.
Please enlighten me what a "csr" is.