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Buxton ND | This NAT to a tee. Its not just NAT its farmers at the local coffee round table/bar talk or farm boys gathering at the gas station to BS with more coffee.
Lil story, year was 1996 very high priced Navy and Pinto markets. Price was $23-24 this was THE high for many years to come. I man named Jed from Fargo was saying HOLDDDDD for $25. We had a OK crop on tons of extra acres driven by competing with soybeans and wheat. I was getting nervous holding high priced dry beans so took a run to the local watering hole. One of those year i did not have a strong opinion on the market just was leaning bearish. This is a TRUE story btw. As I walked in 6-7 of the normal guys were drinkin and were auctioning off the pinto bean's. 25 , 25 do I hear 27 ? 30 32 then 35 and $40 pinto. Just the beer alone probably $10-15 to price action :o) So I had my normal 2-3 beers and BS came home and the next morning called a sold EVERY last dry beans. For many years navy guys said and the guy from Fargo said hold for $25
Dry beans are a market with limited numbers of end users and limited buyers back then,,, today just more limited. Dry beans are probably the why I think very differently about the grains market. BTW over the years the BEST info I've found out in the dry bean biz is in the bar over drinks. The FIRST navy contract out of the RRV was written on a napkin in a Pub in the UK. The VERY best info was with one of the 3 owners out of Michigan when I feed him to much beer to find out just what I wanted to find out :o) | |
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Thank you to the bears
