|
Ripon, WI | Rank. When I first read your post, for some reason I thought you were from Oregon and now looking a little more carefully, I interpret SEON as south east Ontario? The +1.20 basis is a true number for HRW delivered to the ocean, but freight will eat you alive trying that game from where you are. I went to the Ontario Wheat Board website and noticed, for example, the Sarnia bids and how low they were. Because my wife is Canadian, I watch things that are connected to the exchange rate. In the past the prices were nominally the current exchange rate over or under US pricings in that area, but I see that has changed. In 2008 when wheat prices skyrocketed, we saw much the same as cash prices basically divorced themselves from futures prices end users dicated a flat price they were willing to pay, which is a hedging nightmare. Finding out where your local elevator can be as easy as asking the merchandisers or a time consuming as following a shipment to destination. Then you may be able to see if you can afford to deliver there for more money.
Sorry if I confused you earlier. | |
|
who buys the wheat?
