|
Wheat Board Releases Special Wheat Update
06.08.2010 13:20 "Agro Perspectiva" (Kyiv) —
The Canadian Wheat Board today released a special wheat market update to alert producers to potential pricing opportunities.
Wheat futures markets have now posted their largest percentage gains since 1959, with values shooting up over 50% since the beginning of July to more than US $8 per bushel as of opening on August 5 the highest levels since the rally of 2008.
Wheat futures were sharply higher again today, as Russia announced a temporary ban on grain exports in the wake of searing drought and significant expected crop losses in that country. September Chicago wheat closed up the 60-cent limit at $7.85 3/4, while September Kansas City jumped 53 1/2 cents to $7.80 and September Minneapolis marched up 51 cents to $7.83.
The CWB report reminds farmers there are a variety of pricing choices for wheat through the wheat board. Among the options to consider: Booking a «futures-first» Basis Price Contract through the rally and floating the basis.
Locking in current values through the Fixed Price Contract.
Using the FlexPro program (if already signed up) as a reflection of the forward market structure, given the CWBs price pace to date.
Also available:
|
| |
|
|