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| Only a caution here, as my NYC friend quoted, which I posted after the report..that "spring wheat is like gold"--however, at the moment..when you begin to see these big basis swings (if it were beans or corn) it would mean the cash shorts are really choking & it would be important to me to know whether the 'boys on the lake' up North are unwinding any of their holdings.
If they only have a few folks trapped & once done & they've drained every drop..it is 'be careful time." If it is actual day-to-day user demand, that is okay...important to find out who is who.....
I no longer have any connections in that market..used to be a couple of guys operating a mill at Grand Forks who were pretty sharp in knowing what was going on in the city...but I am sure they are long gone. An old international wheat trader was a very close friend & he used to advise the ND wheat growers & had lots of stories about travelling through Yugoslavia & Iraq by jeep & mule & ??? & he would know in a heart beat but I think he's either in a home in New Jersey wearing slippers or abroad somewhere.
Edited by SeniorCitizen 1/26/2008 15:25
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Spring Wheat Note.
