[MLUG - DISCUSSION] wheat futures

[Mike Miller <EMAIL:PROTECTED>]

My dad sent the message below on February 28.  NY Times came up with this 
three days ago:

http://www.nytimes.com/2008/03/09/business/worldbusiness/09crop.html

---begin forwarded message on next line--------
Good morning, Mike, I just couldn't resist sending you a quickie note 
about Minneapolis' sudden pre-eminence in the Stock Market. Well...at 
least in wheat futures.  Most of the country didn't even know that Mpls 
even HAD a market until wheat forecasts a few months ago indicated that 
winter wheat plantings were lower than usual.  It seems that the Chicago 
Board of Trade usually handles the vast majority of futures trading in 
wheat, BUT the Mpls' exchange handles trade on the "hard red spring wheat" 
and prices started to rise.  The price has gone from about FIVE dollars a 
bushel one year ago to about TWENTY-FIVE dollars a bushel yesterday!!!! 
And all the wheeler-dealers in the futures markets are keeping their 
phones open to the floor traders, who say they are in disbelief at the 
records being set daily.

So buy about five months supply of wheat bread NOW and stick it in your 
freezer.  :-)
---end forwarded message on previous line--------


I did notice a jump in bread prices a few months ago.  The bread that I 
was buying for $2.00/loaf a few years ago is up to $3.59/loaf.

Mike

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