Does anyone know what a historic high is for spring wheat ? Are we not close to it around $7.00?
not by a long shot! must have been around 13 or 14 I had some targets trigger around 9.50. and did some FPC's in the high $8s towards end of the wheat board days too. summer of 17 I remember fall delivery bids around $9 for about a week. was too chicken contract any then though bc it was so dry (hence the high bids!!!!!!!)
a quick look on bar chart showed wheat ran up to $12 US on the futures in 2008 (the good ol days!!!!) not sure what that converted to in farmgate bids. that's going back a long way in memory but I think the Communist Wheat Board missed the boat on most of that big run up that year. I think it was what really put the final nails in their coffin.
the Aussies on here can maybe comment for sure but its over $10 / bu domestic in Australia right now is it not?
exportable stocks have to be every bit as low as they were in both 08 and 13 when the markets had the big runs..... Russia, Europe and Aus all had small crops and Canada / US were not huge. everyone was holding out on price coming around after Russian exports slowed down but they did not. the only 2 differences is that Corn is not in massive shortage this time (so not diverting some wheat to feed) and the massive wrecking ball effects of Senor Trump on the world trade markets. so the scary thing there is that a weather turn around this year likely wont be driving prices up!!!! that being said if things start out dry in Canada / Aus ........ because US winter wheat plantings are really low.
sold most of mine in the fall on 7.25 and 7.40 targets. glad I got out when I did!!!!!
western SK bids still over $7. don't know if that equalizes a bit on E side when TBay reopens or not.
target price contracts work if you get out a head of the market and list before everyone and their dog is starting to dump. wait too long and the will just sit there.