From the floor August 5

[Palouser]

Pritch, I'll think about pricing new crop wheat (we haven't started quite yet). But first I have a problem clearing my bins of old crop that, like an idiot, I kept on hand. It's a real headache timing wise. I'm moving it AND scaling up the sales on it.

But, I believe you have a major flaw in your thinking about VALUE. If  crude was bought at 120-150, then it was worth it to the people that bought it. By the same token, if I didn't sell grain at one price but waited until I saw an opportunity to sell at another, then my grain is worth whatever I get. The price I'm getting isn't worth it in your book perhaps, but it is in mine, and it is in the buyer's. What it might be selling for in one month is absolutely immaterial to me. I can't put a value on it. But I'm makling my calculations, and I won't be using seasonals. Real world events and dynamics are burying 'normal' patterns.

At the very least you should acknowledge that there are many ways to skin a cat. I wouldn't recommend my way to anyone. But, I'm not going to be arrogant and call them 'fools' or 'newbies' for not doing it your way. Your great marketing flaw is not being able to control world events and anticipating those events based on daily data.

[Canuck_2]

So what I am seeing here in Ontario could best be described as

CBOT giveth and the 'basis' taketh away

spot price for wheat is now lower than yesterday.

[JRfrom OR]

Well Canuck, just think of it as doing our part to keep those hundreds of millions (billions) rolling in for fat cat wall street. 

quote from Market Watch:

"In past years, this is where ADM and Bunge have stepped in to............make outsized profits."

[jec22]

So what kind of Russian wheat crop size are we trading?  Worse drought in 130 years....seems like if true would lead to more than a 30% loss in production.  What do you hear on palm oil supply?

[Palouser]

Bryan Edwardson said the same thing. Cargill makes more money when prices are high. Even with our epic battles of former years I believe nothing was truer said. Apparently the Portland district had a $1 spread between grower price and FOB price last week. that IS BIG MONEY. The rest of the time some terminal facilities are just part of a required procurement tool to feed higher margin processing.

[cyclonegrain]

20/20 highsight is a great thing.  Anybody can tell you what you should have done.  If you trust your gut so much you surely went long, because you knew all along? 

[cyclonegrain]

Sorry.  My last comment was for BaDeere.

[BA Deere]

Hi Cyclone, when ever there was a hiccup like the report last month with the feed/test weight debacle we got a pop higher in price and China wanted beans even though everyone and his brother absolutely knew beans would slide down to $7 : )))))......Buuut they didn`t and no one ever accused the Chinese of being poor businessmen. So my spidey senses tingled when I was advised to call the elevator and sell my gambling stocks, that`s all. I don`t know who your market advisor is. Did they tell you to finish up sales just before this run up?  Was the Russia dought even on your radar before Marketeye featured it? Just reporting on grains potentially going up, before they did, ruffled the feathers of a famous perma-bear on here