HRS wheat drops below $4

[NABFarmer]

#1 hard red spring wheat low protien cash bid fell below $4 to $3.86 Going to be interesting to see how low she goes or if thats the bottom.

[farmerguy89]

Ya we had this discussion about a week ago. The only person in denial is palouser.

[Palouser]

SWW ticked up a few more pennies today ($7.04). Tell me again how HRS is going to affect me?

I feel sorry for these guys.

The next question is - is that the price of 15% hi pro wheat in the same location???? That's the standard here. There is mention of sub standard protein. HOW substandard? And what is the penalty per 1/4 point of protein????

One can always find sample grade prioduct and say that is the price of wheat. What is the premium for 14-15% HRS wheat??? It is normal for high yields in HRS to also be low in protein. Thats the risk in HRS, besides the normal agronomic ones.

[modal]

 that is hard to belive, hrs is 5.67 for 12 pro and  6.22 for 14 pro . up 7 a 5th from 14 to 17 pro, south central north dakota.

[NABFarmer]

Modal reports are Canadian trucks are hauling into North dakota as prices there are significantly higher. $1.80 to $2.00 higher two weeks ago than forty miles away on the Canadian side.

[pritchh]

With a inconsistent HRW crop we would expect more graded feed whet than usual. The world S&D isn’t too bad for HRW  and though the US crop was under trend, there just isn’t much for the bull side.

Am I right, the SRW crop was record. What does that mean, fundamental bear market, price slips until the marginal demand is found. It may be a spec.

Of course exports are running high last year we didn’t have the corn, wheat to export you can’t export air. The person here who keeps bringing up exports lacks knowledge of how global these markets are. N hemisphere filling in now while S hemisphere harvests and provides more market share from here on out.

Not to over play this, but with great conditions in the ECB why would we have a great 2013 SRW crop and why wouldn’t it be a bear?

There is no new paradigm