In Minneapolis Rumor has it....

[AdamSmith]

Was talking to a fellow farmer Friday and we we're talking farming, and more specifically wheat and the amazing wheat rally and that wouldn't it be great if we we're able to sell into this rally down in ND.

Anywho, he goes on to tell me he has a good friend who works at the MGEX and he phoned him that day and curiously asked if someone was caught short wheat, if that's why it's locked limit up every day.

And imagine what the MGEX guy told him?

That's right.

He said, "well the rumor is that the board is caught short"

Now this is in no way a confirmed fact, just a rumor.

Have you heard anything chaff?

[Vader]

http://www.fas.usda.gov/export-sales/h103.htm

[chaffmeister]

Anytime you see $1.50 inverse and the nearby acting this way, makes you wonder, doesn't it?

OI coming down as market is moving higher - a short is trying to get out. Could be rolling hedges into deferreds. Could be caught short. Either way, they're feeling some pain.

I've heard the same rumour about the CWB. Doesn't make it true, tho.

Vader - not sure what export data has to do with this. But thanks anyway.

[bucket]

Could that be why they are begging everyone to sign up on the B series and farmers are still be allowed to sign A series contracts to deliver. This is why Ward W should be fired - if its true the cwb is short this will cost farmers a small bundle. Think we'll ever find out how much this cost us.

[Fransisco]

The final payment at the end of the year will tell the story.

[AdamSmith]

Just because we hear somthing doesn't make it so, but,

just because of what chaff wrote adds credence to the liklyhood someone is caught short,

and at the elevator the other day the asst mgr. was telling me that a farmer was having him monitor the PPO's for him and what amazed this asst mgr. was that eithe tues or Wed last week when Minny had a limit up move the cwb's fixed price went down.

Again, kinda makes yo go hmmmm.

If I was on the cwb BOD, I'd demand full disclosure of all Minneapolis activity

[TOM4CWB]

AdamSmith,

I heard the same thing a month ago.

The hedge program the CWB uses... defies logic anyway. There should be a Parliamentary Investigation into both the Futures and Basis/pricing PPO operations of the CWB.

These people can defy gravity... for a time... but at some point they will get sucked back to earth!

[TOM4CWB]

Fransisco,

WRONG.

The Basis the CWB comes out with for 08-09 will tell the story.

These guys are masters at robing Peter to pay Paul.

[AdamSmith]

I guess the other thing that makes my eyebrows go up a little is that this was coming from an MGEX guy, not coming out of Canada where the politic of the board can sometimes cloud perceptions.

The way I understand it, the traders at the MGEX, LOVE the board.