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Veteran Advisor

The market giveth the elevator taketh away

Well the Chicago crowd are patting themselves on
The back along with the AG ""media"". Exports, crop
Conditions, here and abroad...we are starting to
See (at least HRWW) that yes Houston, we have
A problem....

BUT

The factor they do not understand...basis

Now how about this...current wheat is 30
Cents under...July is 70 cents under.

40 cents......and it will get worse.,.

Amazing they can make money with 30 under,
And in less than a month (which will be harvest)
Makes a 40 cent difference.

Scouts are saying the wheat is cooked. Hot
Weather has shrunk the seed, so now we
Will have Caraway seed....so not only
Basis.....now dockage....

Sign soon to appear..

Wheat.... $2.00.....acceptance fee


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7 Replies
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Veteran Contributor

Re: The market giveth the elevator taketh away

In Canada it's even worse. For hrsw prices that normally are Minneapolis prices, they are posting market prices less than Kansas soft wheat. Yesterday I seen $200/ton and they somehow forgot about the dollar exchange. Then they throw up some BS that the basis is only $5/ton. Wheat can go up $5/bu and we'll be lucky to see $0.25 here it's almost maddening. I'm ready to sell my #1 hrsw 15.5 protein to the hogs so these thieves can't steal my grain.
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Veteran Contributor

Re: The market giveth the elevator taketh away

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Veteran Advisor

Re: The market giveth the elevator taketh away

Wheatland. I'm a bit confused (usual state
Of mind anymore)
If my math is right, at $200 a ton would be
About $6 a bu.
I thought Canada had a marketing pool or
Something, but didn't understand.

Sounds like good wheat. I was thinking you
Folks raised quite a bit of Durham. I'm told
The closer you get to the consumer the
Better, so always thought a pasta coop
Would be good
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Veteran Contributor

Re: The market giveth the elevator taketh away

Elcheapo, down in the southern part of the prairies they raise a lot of durum. In the north it's mostly hard red because it's usually wetter in the north. That marketing pool got abolished years ago and the government gave all its holdings to the Saudi's for free now that's called G3 I think. Minneapolis price was almost $6.50USD so $6 Canadian isn't very good. After the pool got shut down the elevators gave a decent dollar but they've been building new concrete elevators and adding steel silo storage like crazy the last 2 years. Now with extra capacity they don't have to Drop the basis to get farmers hauling because they can easily fill 100 car loads with just what's in their storage.
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Honored Advisor

Re: The market giveth the elevator taketh away

Somebody is misquoting basis. Probably intentionally to blame the. Winner
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Honored Advisor

Re: The market giveth the elevator taketh away

Cheapo lack of competition because of lower farm #s and consolidation is to be expected. Grab a number.
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Senior Contributor

Re: The market giveth the elevator taketh away

Should go to collective bargaining and to 7344 with the CBOT. The masses wouldn't like hunger and be a lot of people jobless let em make a real living.

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