MGEX wheat over $10

[rook]

CBOT <$9. What's going on? Is the world buying protein and quality again? Most of the market commentary I've seen is saying buyers are priced out of the high-end market and yet MGEX has been on a rip. Anyone with any insights?

[charliep]

Just as a caution, the $10/bu is on the December contract. Likely someone getting squeezed on the delivery month. The march contract (Dec. 6 9:30 am) is $9.65/bu with the highlight of the steep inverse in the other months.

[charliep]

On the insites, today's Statscan report will have caught bread wheat buyers interest/pressed their fear factor. MGE is mainly a hard spring wheat market versus CBT which is a soft red winter market.

[winwin]

As a CWB director I can assure you that those prices aren't real.We decided to take the spin strategy at the last board meeting of 1.telling you that U.S. farmers don't really get those prices 2.Instead of putting all the sales money in the pool accounts using a bunch of it to brainwash farmers into believing that $6 is actually better than $10 and 3.We agreed that we would only raise the PRO's when we needed to politically.

All in all,we spend about 65% of our time at the board meetings discussing politics instead of creating value.(much like Agriville).

That's because we understand that the source of our power,and the source of your bondage,IS POLITICAL.