mtbrights - 2/25/2008 23:50

AT the USDA ERS recently had cost of wheat production at 6.50 or thereabouts. BUT, they used <500 Urea and Glyphosate that hadn't tripled. Virtually useless data in today's fast market. There was a little lag, but inputs are now unabashedly going up as fast as the futures. The one exception to date being rail transportation. Nothing but intuition here but I would count on another astounding increase soon. Those incompetent, unlucky or those who just don't get the moisture are going to be in real trouble. Just surviving is taking precedence over getting rich.....