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7 dollar wheat price at local elevator
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brbear
Posted 9/5/2007 18:19 (#198885 - in reply to #198832)
Subject: RE: 7 dollar wheat price at local elevator


In my thirty years growing wheat I may have sold SRW once for more than $5.00 per bushel, but I'm not sure. The bid in Memphis after the close today (9/5) is $5.51 for July 08 wheat. That makes the basis .75 under. After the sorry crop(s) I'll harvest this year, selling wheat next June for $5.50 will provide me with an income boost that will be sorely needed at that time. I plan on increasing my wheat acres, hoping the Easter freeze was an once-in-a-lifetime event, and then hoping again we get enough rain so that the DC beans will grow enough to justify harvesting them.
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