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Wheat what do you read into comments like this?

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    Wheat what do you read into comments like this?

    In Egypt, the country’s minister of supply and internal trade said that its current state wheat reserves are sufficient for the next five months.

    5 months time they are hoping prices will be lower?

    5 months time prices might go higher as nations look for wheat and may be in short supply.

    Its hard to join the dots when your a amateur like me.

    Information overload at times.

    Another from last night was something like “wheat mixed overnight as lots of fund technical manoeuvring took place”

    Howvthe heck are farmers meant to know what technical manoeuvring is farming101+ macdon errol etc might be up to speed but im in the back corner of the class or out in the corridor doing time out.

    Ps were done harvesting more pics in a few days

    #2
    curious mallee , how many hours do you put on your combine every year?

    Comment


      #3
      as to your question , i wonder how wheat can be at 1970 prices when everything else has gone up

      Comment


        #4
        Originally posted by caseih View Post
        curious mallee , how many hours do you put on your combine every year?

        Will check. Our main issue this year was recieval standards, moisture.

        Our elevator system has 13.5% moisture wheat.

        End users and container market has 12.5% we had grief for almost two weeks, did stuff all.

        Cold harvesting weather to be honest most days between 24 and 32c not ideal for wheat.

        Re prices yeah dunno the solution old story you get paid less to produce more one of the few industries that has reverse economics

        Comment


          #5
          mallee, the trade is trying ever trick in the book to get wheat out of the bin without paying up for it. They know whats coming.

          Egypt is a huge food importer. They are playing with fire here imho

          Comment


            #6
            Originally posted by caseih View Post
            as to your question , i wonder how wheat can be at 1970 prices when everything else has gone up
            Seeded wheat acres will be down in 2021 in North America with high corn, feed barley, oilseed prices.

            Comment


              #7
              Got I text from the guy at the local Richardsons’s asking if I had any unsold wheat left and how much? I told him I wasn’t interested in selling any right now. He texted back saying “ ok I wasn’t really looking to buy just wanted to know what you had left”

              Comment


                #8
                Yea they are snooping around.

                Comment


                  #9
                  Originally posted by seldomseen View Post
                  Got I text from the guy at the local Richardsons’s asking if I had any unsold wheat left and how much? I told him I wasn’t interested in selling any right now. He texted back saying “ ok I wasn’t really looking to buy just wanted to know what you had left”
                  Planning a schedule to fill a train?

                  Comment


                    #10
                    Originally posted by seldomseen View Post
                    Got I text from the guy at the local Richardsons’s asking if I had any unsold wheat left and how much? I told him I wasn’t interested in selling any right now. He texted back saying “ ok I wasn’t really looking to buy just wanted to know what you had left”
                    I woulda text back their pricing its evident they aren’t looking to buy....

                    Comment


                      #11
                      Originally posted by malleefarmer View Post
                      In Egypt, the country’s minister of supply and internal trade said that its current state wheat reserves are sufficient for the next five months.

                      5 months time they are hoping prices will be lower?

                      5 months time prices might go higher as nations look for wheat and may be in short supply.

                      Its hard to join the dots when your a amateur like me.

                      Information overload at times.

                      Another from last night was something like “wheat mixed overnight as lots of fund technical manoeuvring took place”

                      Howvthe heck are farmers meant to know what technical manoeuvring is farming101+ macdon errol etc might be up to speed but im in the back corner of the class or out in the corridor doing time out.

                      Ps were done harvesting more pics in a few days
                      Not sure but Eqypt often makes a wrong move on the market.

                      China is a much better at market reading or leading the market.

                      Comment


                        #12
                        Originally posted by SASKFARMER View Post
                        Yea they are snooping around.
                        They always want the very important bushel number on the sample bag.

                        Comment


                          #13
                          Some of you guys really see the market as your enemy.

                          Myself here sitting on 800 t of wheat.

                          Sold out of barley did i get the top at harvest no, but within 10%.
                          Foward sales of barley did i get the top no but close. Combine the two fair price.

                          Wheat similar story.

                          Last 800t have a target price 3 buyer's i deal with mostly know the target. Basically has to rise another $18 per tonne.

                          If and when it gets there will be executed done and dusted. If prices keep rising i will swing to pricing new crop nov dec delivery no science here. Brokers saying i should sell wheat now and replace on paper if i want to capturevthe $18 rise. Each to there own.

                          Im sure some of you no way would you let buyers know tonnes and price wanted. Just the way we do it here.

                          I many many farmers tell buyer i want x dollars gets to 3 bucks near it they ring buyers say nope no deal i know want x plus 5 get close to target rinse repeat. Buyers just dont deal with dickheads here. If ya wanna play that game dont tell buyers your price wanted. Often those guys market collapses there left selling $40 below the best offer they had.

                          Im fast learning we sure do things differently here. Dont mevyou guys are wrong at all just mindset different.

                          Comment


                            #14
                            Originally posted by rumrocks View Post
                            They always want the very important bushel number on the sample bag.
                            I aways give them the same answer when they ask ,you know ( a couple of loads ). I guess farmers get a little paranoid when everything they buy has gone up 3 or 4 times in cost but they still receive the same price from 20 or 30 years ago.

                            Comment


                              #15
                              Originally posted by malleefarmer View Post
                              Some of you guys really see the market as your enemy.

                              Myself here sitting on 800 t of wheat.

                              Sold out of barley did i get the top at harvest no, but within 10%.
                              Foward sales of barley did i get the top no but close. Combine the two fair price.

                              Wheat similar story.

                              Last 800t have a target price 3 buyer's i deal with mostly know the target. Basically has to rise another $18 per tonne.

                              If and when it gets there will be executed done and dusted. If prices keep rising i will swing to pricing new crop nov dec delivery no science here. Brokers saying i should sell wheat now and replace on paper if i want to capturevthe $18 rise. Each to there own.

                              Im sure some of you no way would you let buyers know tonnes and price wanted. Just the way we do it here.

                              I many many farmers tell buyer i want x dollars gets to 3 bucks near it they ring buyers say nope no deal i know want x plus 5 get close to target rinse repeat. Buyers just dont deal with dickheads here. If ya wanna play that game dont tell buyers your price wanted. Often those guys market collapses there left selling $40 below the best offer they had.

                              Im fast learning we sure do things differently here. Dont mevyou guys are wrong at all just mindset different.
                              I'm sure there are differences, but I think the sentiment towards buyers on agriville is exaggerated and doubt the individuals are as cranky with the buyers as they like to portray.

                              I have good relationships with buyers I work with, honestly believe they try to help me out when I need it. If I don't like their price or terms I find an alternative, of which there seems to be more options every year.

                              Comment

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