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cropsey, il 61731 | I remember taking an online marketing course (over dialup) where the speaker pointed out the relationship that corn price and wheat price 'always' have because feeders were going to switch the minute one got cheaper than the other relatively speaking (1 bu corn = .75 bu wheat - I can't remember the 'nominal' ratio).
Perhaps with the advent of the special wheat that became magically worth $20/bu and a pretty constant supply of corn this former wisdom was generally left behind or at least not talked about. The course speaker suggested that wheat and corn prices would always 'blow apart' when they reached feed equivalency. I'm assuming the prices blow apart due the change in demand from corn to wheat. Will we return to this relationship? Will that keep the carryout number of 632 staying put or growing some? Could this be the dampener on what looks like the next chance for fireworks late this summer (what does 15 days supply really look like?) | |
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It's report week.. Let's get this party started.
