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Buxton ND | Alot of wheat left prior to harvest, a good crop, poor exports, too much wheat sitting around from 2013 and 2014
There was a pretty strong basis late November/very early December then its been down hill else since.
Late deer hunting time frame., deer hunting over the years has been a good time to let some go.
Also there dangle the carrot in front of the Kansas boys to plant it.
Very strongly seasonal's here.
All my life I've heard at marketing meeting "reward a strong basis" it solid advise proven over decades.
Ray J made a comment or 2 about this being the year to learn lock in basis and futures at a different time. I guess this WAS the year and flat prices are poor right now.
Looking forward I will have my futures locked in by no later then May 1st.
Want some new crop hedged by that timeish, the rest goes in the bins and will sit there waiting for deer hunting.
I have a strong feeling there's gonna be alot of wheat moving come June and July so would not want to be the last one emptying the bins.
Guys have been storing wheat as less corn has been raised,,, more corn this year,,, their gonna need that space................................................. | |
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Why has the basis went to #$@! in wheat ?
