East central South Dakota | Im about as bearish wheat as you can get. Had a basis contract that was at the time .30 ahead of the game, now its a dime back of the bid. Hauling 13.5-13.6 pro spring wheat in this week, hauled 13.9 winter wheat in last week. Put an order in at 4.95 on the bushels I have in currently. Watched the market nickel and dime me down from 5.50 or so down to 4.86. Taking my lumps on about half my contracted bushels so I don't sell at THE low and will see what happens next week. Have a little in another bin that we might sit on and see what happens in a month or so. I just can't see a rally coming that means anything - we've hit the $5 area a few times and bounced right back down.
That being said - I do hope you're right! Might be a little incentive to plant some wheat this spring. Definitely didn't take the carrot (maybe 10 whole cents) last fall to plant a bunch of winter wheat - first time we've been a fall insurable county for winter wheat and I planted zero. |
Spring wheat front month
