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Moorhead, MN | Down to $1,750 at ACS, as you likely know. The payment for the '12 crop just went up $5/ton so that will slow the bleeding.
No one can pick a bottom, If I wanted to buy stock I'd split it into 5 purchases (Jan, Feb, Mar, Nov, & Dec) this year. My wild ass guess is that it'll shares will trade down to $1,100 later this spring.
I've heard some chatter of guys paying $200-300/acre for rent next year. "Well that's down a lot from this year and probably fair!" Quick way to lose $400/acre next year on a a $30-35 payment!
There is a lot of underlying asset value to the company (the plants & Pro Gold), but I really question the sugar programs viability going forward so Im staying away. | |
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Nick-Update on Sugar/Stock
