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I was wondering people's opinion on spring wheat pricing and marketing. Have most people marketed there's already do you guys think there is a rally or has it passed. Still trying to get used to marketing this crop post cwb. I farm around warren manitoba
 

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The only thing different about marketing RS wheat is that there are more grades than you have when marketing your canola (for example). Shop it around. One elevator might call it a #1 13%pro, the next a #2 14%pro but both are paying the same amount. Third place might give you a #1 14%pro because they need it to fill cars.

Andrew
 

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Wheat is such a dud, you can do what you want to be the best marketer but it won't matter.
But then again there is only a few days of supply so wait a day or two and watch for a big spike then sell. See its that easy. Lol
 

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basis is a big thing to watch. The recent rally has been taken away by huge increase in basis. In my area its gone from positive 10-20 cents a bushel to negitive 60-70 cents a bushel. In a little over a month. Futures are higher but farmer take home $ is lower.
 

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Best advice on marketing wheat. If you need money, sell some wheat. Just added up what I have left on hand. I won't have any extra money sitting around this year. I will have to visit the banker a few times, he should be glad to see me. Glad I did not sell at harvest or he may not be so happy to see me. There is my marketing advice for this year. Clear as mud, only sure things are history.
 

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I got a theory

but I have lots of theories and about half of them are right. I think this current rally was a good opportunity, but you had to sell the futures and hope that if futures prices drop (they did so far, I think there is more to come) that basis levels will improve and you would end up with a good price.

That's my thoughts but a lot could go wrong or differently than I think, but at least so far I'm making money on the futures.
 
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