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USA | IMO SRW acres in this part of the country will be down at least 50% from the 09 harvest. Guess on total SRW planted acres, would be 25 to 30% less than 09 harvest. Would amount to about 2 to 2.5 million less acres of SRW.
Would not be surprised to see $7-$8 wheat in the next 12 to 15 months.
Have been buying GRIP insurance on wheat. This year bought GRP instead. Saved $33.64 per acre by buying GRP instead of GRIP. Thought GRIP was too high for what it was protecting.
Thinking about taking the insurance savings and doing the following for each 100 acres of wheat. Buy two $5.20 Mar 2010 calls, one $4.50 Mar 2010 put, one $4 Mar 2010 put, and go long 5000 bu July 2010 wheat.
Edited by coup 10/1/2009 23:01
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SRW wake up call
