The last thing the SRW market needs is to go back to having tens of millions of unmerchantable wheat stuffed in Toledo as was the case approx 2000-2006.
Market finally got tight enough that they were able to clean it out which was a good thing.
The primary impact on SRW was the horrendous basis non-convergence. We'll see.
Sometimes better to be lucky than good- I was just carrying super cheap OTM puts on new crop C and S and had some cause to regret it. Will begin making new crop sales tomorrow. The puts are likely tioast but that's OK, still ahead of the game.
Almost all the corn crop will pollinate OK and beans, we'll have to see. But there's going to be a somewhere between OK and so-so crop.
I've got 14K SRW w/ 58.8TW, <1 Vomitoxin, 1% sprout damage. On Friday when we were cutting, hauled 2 loads to ADM and Consolidated.....Couldn't get a $ 5,00 bid on my good quality.....alot of 30-40% sprout damage with low 40 TW coming in.....and plenty still out there in the field which won't be worth anything after dock.....of course they were telling me I need to sell it all now cause prices weren't going higher. lmao.....They were figuring on stealing all the good quality wheat to blend with the sh1t they stole last year and have sitting in storage.....this is going to get real interesting.....especially for milling quality SRW. I'll hold it till 2016 or until Jesus comes back, which ever comes first.......an dprobably take $ 2.00 for it at some point. lol