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elcheapo
Veteran Advisor

wheat hit bottom ?

I thought the opinions here was wheat
Had hit the bottom a while back?

Oops!
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15 Replies
Shaggy98
Senior Advisor

Re: wheat hit bottom ?

Amen Cheapo, not surprised this is still an empty thread.

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c-x-1
Veteran Advisor

Re: wheat hit bottom ?

I don't see any HR or SR charts hitting new contract lows today - so I'm only posting now b/c my heads been sidecocked like a dog all day on this one -- when they give you that, "what the **bleep** are you trying to say to me" look.

 

as producer's - are y'all seeing new cash lows?

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Shaggy98
Senior Advisor

Re: wheat hit bottom ?

Yes, It's now below $6 cash.  Locally I've got a -$0.29 basis.

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sw363535
Honored Advisor

Re: wheat hit bottom ?

Well no it is not new contract low at all------ wheat was lower than this in July.

 

And when it gets cheap enough we will bury it in the ground so we don't have to pay taxes on this high priced stuff.

 

I believe July 15 is about $6.47 with the potential to make more profit than $ 356.00 a bushel corn.

 

Think about it.

 

 

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c-x-1
Veteran Advisor

Re: wheat hit bottom ?

I will think about it, sw......my in laws are NE of Dallas near OK border - he's got a little ground - used primarily for veg garden and run amuck by ground moles, but ---what the heck..........perhaps i should suggest he look into buying some HWW seed + about 35 ac he could possibly rent on the farm adjacent to their north.

 

Do you have any idea what the smallest quantity rations for sale are - do they sell at most feed stores/warehouse?

 

seriously,

 

thanks

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elcheapo
Veteran Advisor

Re: wheat hit bottom ?

Today's quote for several elevators for
Wheat. $ 5.84. -45 basis

Plus horrible yeilds

Plus no rain to speak of for almost a month
And a half

Smiley Happy Smiley Happy Smiley Happy
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sw363535
Honored Advisor

Re: wheat hit bottom ?

the way it rains down there he needs at least 35 bushel --- up to 50 bu at the most.  

Most any farmer in OK or western Ks has and  will sell ya Hrw wheat "FEED" for your moles.  In that area you will probably get 1500 to 2000 bushel back when the moles are done with it.  no fertilizer needed thanks to the moles.

 

But do not buy corn seed,  When harvest is over you will owe a chemical company 1500 to 2000 bushels for the use of "THEIR" seed.

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Shaggy98
Senior Advisor

Re: wheat hit bottom ?

You're preaching to the choir Cheapo but what'll you substitiute in it's place?  Location sometimes hampers more than just production, marketing would be much different if we lived in a vast area of end users.

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northnd
Senior Contributor

Re: wheat hit bottom ?

Not so bad, here in northern North Dakota new crop bid is $4.99 with a -1.30 basis.  Farming is starting to suck hind **bleep** in these parts.

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