Today we hit the magic number -  £200 for july wheat, £162 for nov 11. The bull run is on!

Yeh boi cash money, more new kit for sure thanks russia ;)

It's the Scottish premium there! Six pound lower in the breadbasket of east midlands.

Glasshouse could well be correct on this one .The Contracts from last season must all be coming to an end and everyone is now seeing how scarce Wheat really is.I would not be surprised to see this price a lot higher by the end of March.

We will be eating into carryover stocks very, very soon. A lot depends on a) what shipping business is booked and b) how much of that gets sold back into the UK. Either way, fun times.

July wheat futures at £200/t - here's how FWi is reporting it.

Link doesnt work.

Don't know about the rest of the world but in the Canadian Prairies we could be in for a second difficult spring planting. We went into the fall freeze up very wet and are now looking at large amounts of snow. Farmers are growing less wheat and barley in the prairies as the Wheat board are making a complete mess of marketing (malt barley prices fell here in Canada last week to $188can/tonne due to bad sales by the board). Also canola is king, with good forward contracts for next year, if we can plant at these prices every other crop will be fighting against canola for acreages.

We are just getting notice of what the CWB are going to pay us for 2009 wheat crop, its going to be about $150-160CAN/tonne, and we have waited over a year for that!! Thank goodness they don't market all our Prairie crops, I know they would like to.

TeslaCoils:

Link doesnt work.

Try again Tesla.. works OK for me.

Caveo:

Also canola is king

OSR here is king too. It's just everyone gets more excited about wheat. ex farm rape prices over £400/t now which I dont think has happened before. Certainly best I have sold for was £375/t.

Does the CWB purchase all your inputs for you too?

Does the CWB purchase all your inputs for you too?

Ha Ha

Just seems a bit, well, stupid really. A single buyer of wheat, paying you an unknown price, but then individual farmers buying their own inputs.

Cant be all bad though? Better one state / farmer run organisation controlling it all than 3 international PLCs?

£200 is now in the rear view mirror, and this v8 supercar keeps powering on!

Glasshouse,

                 Dont get carried away.The Boys in RBS for one are playing this Roller Coaster on the Back of every forward Contract used by a Farmer to sell his Produce.When that contamination of yours and every Contract is outlawed then you will have a truly open Market, until that day still count your Chickens!

come on bb, i seem to remember you were pouring cold water on the boom 5 months ago when it was at £130.

i am not selling forward, i seldom do, and i am unsure if my wheat will still be there in the spring, with this unprecedented frost

You can now watch the price sky-rocket. I have this week committed everything, bar a couple of loads of wheat as a buffer, for movement over the next few weeks. I may regret it, but I'm more than happy with the prices at the moment, most inputs are already purchased for next years harvest, and I can stop watching the prices and forecasts as fervently as I have been. (In fact, if prices keep going up I'll get the newsagent to rip out the back pages of the FW before I buy it!!)

Glasshouse,

                  First of all a very Happy Christmas, secondly did I say that about the price of Wheat 5 months ago! I have been convinced ever since Harvest that there would be a World Shortage because of the Weather situation all over the World re Wheat.I do agree that the price is going only one way and that is North but these Beggars on Horses Backs are corrupting the Market and I think we will see big swings in this price as they play this Market for their own ends and what they need to do this with are forward Contracts.My Daughters Chap used to work for RBS as a Futures Grain Trader, he has told me how the Market is corrupted by these so called Traders on the Back of someone elses Contract.

merry xmas bb and everyone.

i think i said before that short selling should be made illegal , that is what drives the market to low extremes.

frost has abated this morning thankfully, its just above freezing.

markets are on fire

£205 for may, £170 nov

Kansas Ag Statistics rates 33% of the winter wheat in Kansas at poor to very poor, 40% fair, 25% good, and just 2% excellent.  Dry weather is taking its toll.   Our weather can turn on a dime, but if we go into March this dry when the wheat breaks dormancy, things will get tough fast.

two good bullish articles in todays telegraph.

they say this is the decade for farmers and miners. the city has had it!

Tis an ill wind that will blow no good

glasshouse:

two good bullish articles in todays telegraph.

they say this is the decade for farmers and miners.

Hurrah

Here's the piece in The Telegraph.

Oh dear, Henarar is right. If the financial 'experts' are trying to talk things up, that must mean a big crash is on its way! Time to see what's available on forward contracts.....

 Is the price driven by demand? is there a shortage? can you by wheat if you need it? or like the oil price is it just driven by bull s

big swings in price will not always help your 5 year average profit for this you are better of with a steady rise in price over the years