We are back from the holidays and looking forward to a challenging semester. Planning for this year’s crop will start soon and the marketing group is right in the middle of marketing last year’s crop.
Before we left for the Christmas break we were 50% priced on last year’s canola. We had a GPO (Grain Pricing Order) set and a basis contract on the next 25% over the holidays. Unfortunately, the market did not reach our target price so we will reevaluate our target.
We have 20% of our wheat on basis contracts that were priced in October and November. The rest of the wheat we left in the pool. We will be looking closely at the CWB Early Payment Option discounts and the wheat prices in the next few weeks to see if it is affordable to establish a floor price on part of the remaining wheat.
Monday, January 4, 2010
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