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Disclaimer:
This web page is designed to aid farmers with their marketing and risk
management decisions. The risk of loss in trading futures, options,
forward contracts, and hedge-to-arrive can be substantial and no warranty
is given or implied by the author or any other party. Each farmer must
consider whether such marketing strategies are appropriate for his or her
situation. This web page does not represent the views of Kansas State
University. |
| Estimating Wheat Planting Price for 04 Winter Wheat1 |
| CRC/
CBOT: AL, AK, DE, GA, KY, LA, MD, MS, MO, NC, SC, TN, |
|
| CRC/
CBOT: VA, IL, IN, MI, OH, PA, WI and NY2 |
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| CRC/
KCBOT: IA, MT, NE, SD, WY, AZ, CA, CO, KS, NM, OK, and TX |
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| CRC/
Portland: ID, NV, OR, UT, and WA |
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| RA/
CBOT: ID, NV OR, UT, WA, IN, KY, MI, OH, and TN |
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| RA/
KCBOT: AK, CO, IA, KS, MO, MT, NE, OK and SD |
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| Estimated
CRC Wheat Base Price for 2004 |
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|
Daily |
Average |
|
|
CBOT |
KCBOT |
|
Closing |
Closing |
|
Portland |
July 04 |
July 04 |
|
Price |
Price |
|
White |
Soft Red |
Hard Red |
|
CBOT |
CBOT |
|
Wheat |
Wheat |
Wheat |
|
Sep 04 |
Sep 04 |
Estimated |
Base |
Base |
Base |
|
Wheat1 |
Wheat |
Basis |
Price |
Price2 |
Price |
| Base
Price 03 |
|
|
$3.99 |
$3.53 |
$3.73 |
| Estimated
Base Price 04 |
|
$3.83 |
$3.36 |
$3.40 |
| 08/15/03 |
|
|
|
|
3.4250 |
3.5000 |
| 08/18/03 |
|
|
|
|
3.4450 |
3.5150 |
| 08/19/03 |
|
|
|
|
3.3750 |
3.4425 |
| 08/20/03 |
|
|
|
|
3.3800 |
3.4050 |
| 08/21/03 |
|
|
|
|
3.3750 |
3.3900 |
| 08/22/033 |
3.3650 |
3.3650 |
0.48 |
3.8450 |
3.3650 |
3.4100 |
| 08/25/033 |
3.4000 |
3.3825 |
0.48 |
3.8625 |
3.4000 |
3.4300 |
| 08/26/033 |
3.4050 |
3.3900 |
0.48 |
3.8700 |
3.4050 |
3.4425 |
| 08/27/033 |
3.3625 |
3.3831 |
0.48 |
3.8631 |
3.3625 |
3.4300 |
| 08/28/033 |
3.3700 |
3.3805 |
0.48 |
3.8605 |
3.3700 |
3.4300 |
| 08/29/033 |
3.4300 |
3.3888 |
0.48 |
3.8688 |
3.4300 |
3.4400 |
| 9/2/20033 |
3.3700 |
3.3861 |
0.48 |
3.8661 |
3.3700 |
3.4200 |
| 9/3/20033 |
3.3500 |
3.3816 |
0.48 |
3.8616 |
3.3500 |
3.4125 |
| 9/4/20033 |
3.3600 |
3.3792 |
0.48 |
3.8592 |
3.3600 |
3.3900 |
| 09/05/03 |
3.3150 |
3.3728 |
0.48 |
3.8528 |
3.2900 |
3.3175 |
| 09/08/03 |
3.3350 |
3.3693 |
0.48 |
3.8493 |
3.3300 |
3.3300 |
| 09/09/03 |
3.3100 |
3.3644 |
0.48 |
3.8444 |
3.3025 |
3.3400 |
| 09/10/03 |
3.3100 |
3.3602 |
0.48 |
3.8402 |
3.3025 |
3.3275 |
| 09/11/03 |
3.3050 |
3.3563 |
0.48 |
3.8363 |
3.285 |
3.315 |
| 09/12/03 |
3.3100 |
3.3532 |
0.48 |
3.8332 |
3.2875 |
3.3100 |
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| 1IP
planting prices are based on the CBOT. |
| 2CRC
planting pricee for New York is 85% times the CBOT price. |
| 3CRC
planting Portland price requires 15 trading days with open interest
of 50 contracts |
|
in the Sep 04 CBOT wheat contract, otherwise subsitute Jul 04
CBOT wheat prices. |
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