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| Still have all my 07 wheat in the Bin. About 1/2 of it is priced on Basis Contracts without basis locked in. I'm still not happy with the Basis. Local basis is $.88 , but the basis at the river or in St. Louis doesn't justify trucking it there, either. So, I guess the question is, how much does this wheat market have left in it? The two options I have, as I see it, are #1 Price the Contracted wheat and move it. Save the non contracted wheat if you think prices are going to continue to climb. #2 Sell the cash wheat and keep back enough bushels to fill the contracts, hoping that basis narrows some more at some point. I suppose #2 could also involve buying some calls to try to take advantage of further market moves. Also, holding indefinately is not an option. I need to clear out bins for fall harvest plus I need a little cash for end of season expenses.
Thanks.
Edited by Pofarmer 8/8/2007 15:04
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Old crop wheat sales
