Posted 12/19/2007 20:29 (#264210) Subject: How much wheat in farmers hands
North west MN
I wonder how much wheat is actually in farmers hands or bins?
I was talking to a couple of local elevators and they said wheat that is coming now was forward contracted for DEC. and most was set at 5 to 6 dollars last summer and the over run was sold off the combine for 6-7 Dollars after binning the contracted bushels.
So where is the wheat going to come from when the futures rally?