Any malting barley growers out there?
Today is the first day where you can hedge part of your Boortmalt contract price and fix it relative to the MATIF wheat price (which is €208 a tonne right now) + malting bonus - drying costs.
Anyone have any thoughts on what the best thing to do is?
Sounds good!! is that direct with Minch? would consider locking in a certain percent of your crop?
Yes - it's the new Boortmalt (Minch) pricing structure. They offer a price at three separate days (today's the first), and you can lock in up to 52.5% of your total contract on any or all of the three days. I've locked in 17.5% today, so I'll have to wait and see what the price does for the next few weeks now.
that sounds a bit strange a way of a company buying crop. Only allowed trade at a price set 3 days a year and only allowed sell 52.5% of crop
i actually though they took the price from matif at 3 random days over the past 12 months and came up with a price from that calc. they have to offer to buy the barley at any stage of the year i reckon. and also bob its the farmers choice of how much he does.
You can not hedge any of it, and they'll buy all of it at the price on the day of sale.