SilliamWhale
Member
put like that its does seem value, a big harvest, potential tariffs or currency could soon push prices to below that level
........ then again it could be a complete waste of a fiver I guess !
One way to look at to is just because you didn't crash your car last year do you regret buying insurance for it ?
Actually I realised I misinterpreted my quote.
Quote was from April to Nov ie the average wouldn't be below £150. Given that the current price is £165 and may well stay there for a few months new season would have to collapse by a fair whack (sub £135 after harvest maybe?) to give me that average - not that I want it to obviously.
If I wanted to guarantee I got £150 in Nov I would have to pay £8 odd which is obviously a bit more to pay but then again was offered a futures price of £142 for Wheat in Nov yesterday too so in a way if I wanted to sell now it would be level pegging. Alternatively you could pay £5 ton to ensure it doesn't drop below £140/t in Sept...(which is what @An Gof has done I think)
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