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Home >> Stock Forums >> Long wheat?

Long wheat?

StockMan69 said: "Anyone long wheat? Wheat hit an all time high today because of demand and because Turkey order 500,000 tons of wheat from the US. Its $12.95 per bushel now."

ratAphooey said: "I really dont understand the whole commodities thing too well. Seems like a hassle."

Heather said: "I don't follow commodities too much, but wheat is an interesting play. It's a key ingredient for bread and other "food" stuffs.. if more farmers gear up growing corn (for ethanol) and don't raise wheat, the prices are bound to go up."

StockMan69 said: "Look at the almost perfect chart."

lil dickie said: "Hell yeah. I have been long wheat since September 2007 when I made the [url=http://www.superiorinvestor.net/showthread.php?t=6178]call of the Century[/url] on wheat. That is probably the greatest call in the history of Superior Investor... :clap:"

Heather said: "Lots of movement up since that original post, Lil."

AlfredSokol said: "This is the reason I'm starting to think biomass is a dumb alternative fuel."

StockMan69 said: "Way to go Lil Dick. Wheat is used in so many items. Even wheat aftermarket products are a staple of life in the U.S. Demand is not going down anytime soon."

Heather said: "I was reading today about how the cost of flour is starting to really hurt smaller bakers/bakeries. A local baker had this to say: [I]"When I get a load of flour, I shiver, and I say, 'How am I gonna pay this?'," said Ralph Jacobs of Amalfitano's Italian Bakery. Last year a baker would have paid $37 dollars for a barrel of flour. Now the same barrel costs $225. That's more than a 300 percent increase. Ralph Jacobs packs his silo with about 45,000 pounds of flour. A year ago that would cost roughly $8,000. Now the bill is closer to $24,000.[/I] A 300% increase in cost from a year ago is sure to bust about anyone. I wonder if this will move more farmers to raise wheat?"

StockMan69 said: "It should. Then when more of them raise wheat the price would drop. At least that is the free market system in practice. In reality governmnet subsidies are the whole problem"

AlfredSokol said: "This is why I think BioMass is a stupid idea for alternative fuel. All that will happen is it will push commodity prices even higher with no chance of actually solving the oil crisis."

StockMan69 said: "[QUOTE=AlfredSokol;65835]This is why I think BioMass is a stupid idea for alternative fuel. All that will happen is it will push commodity prices even higher with no chance of actually solving the oil crisis.[/QUOTE] So go long wheat then. Yes it is dumb but people are banking off wheat. Even wheat straw is in demand!"

SystemTrading said: "[QUOTE=Heather;65604]I don't follow commodities too much, but wheat is an interesting play. It's a key ingredient for bread and other "food" stuffs.. if more farmers gear up growing corn (for ethanol) and don't raise wheat, the prices are bound to go up.[/QUOTE] I actually think soybeans are the play. My family are farmers, and they have been asked for several years now to plant more corn and less soybeans!"

AlfredSokol said: "[QUOTE=SystemTrading;67194]I actually think soybeans are the play. My family are farmers, and they have been asked for several years now to plant more corn and less soybeans![/QUOTE] I switched from Milk to Soymilk 5 years ago. I can't be the only one. I buy quite a few soy food products."

SystemTrading said: "[QUOTE=AlfredSokol;67209]I switched from Milk to Soymilk 5 years ago. I can't be the only one. I buy quite a few soy food products.[/QUOTE] Have you noticed a price increase lately? If not, I bet you will soon!"

StockMan69 said: "[QUOTE=SystemTrading;67310]Have you noticed a price increase lately? If not, I bet you will soon![/QUOTE] There's no question prices are up for soymilk. Another thing these companies are doing with many grocery products is making the product size smaller without telling anyone. I notice $2.80 cereal with about 4 ounces of flakes these days."

SystemTrading said: "[QUOTE=StockMan69;67315]There's no question prices are up for soymilk. Another thing these companies are doing with many grocery products is making the product size smaller without telling anyone. I notice $2.80 cereal with about 4 ounces of flakes these days.[/QUOTE] Sounds about right. When I was growing up in Hawaii a small box of cereal was $6."

ratAphooey said: "[QUOTE=SystemTrading;67362]Sounds about right. When I was growing up in Hawaii a small box of cereal was $6.[/QUOTE] But at least you got an ocean and great view with it."

Betsy said: "I've been noticing my grocery bill creeping up. It seems that $100.00 doesn't buy what it used to. Even my beloved bananas were up 10 cents a pound the last time I shopped. [QUOTE]I switched from Milk to Soymilk 5 years ago. I can't be the only one. I buy quite a few soy food products.[/QUOTE] I've never had soymilk before. How's it taste? [QUOTE]I actually think soybeans are the play. My family are farmers, and they have been asked for several years now to plant more corn and less soybeans![/QUOTE] How many acres does your family farm?"

SystemTrading said: "[QUOTE=Betsy;67399] How many acres does your family farm?[/QUOTE] Good question. I believe it is 500 or so acres."

lil dickie said: "[QUOTE=SystemTrading;67422]Good question. I believe it is 500 or so acres.[/QUOTE] Man your parents must have worked your ass off as a kid."

pranith said: "I think this turns around to be a good deal and even in terms fo commodity. I think even we can invest money in this money also."

AlfredSokol said: "[QUOTE=lil dickie;67475]Man your parents must have worked your ass off as a kid.[/QUOTE] Check out the movie "Farmer John" if you like documentaries. It's an interesting look at just how the farm industry has changed."

SystemTrading said: "[QUOTE=lil dickie;67475]Man your parents must have worked your ass off as a kid.[/QUOTE] Well fortunately my parents aren't the farmers, but I'm not going to say they didn't get some good labor out of me."

ratAphooey said: "Wheat prices could stay high for 2 or 3 more years. [url]http://www.news.com.au/heraldsun/story/0,21985,23583755-662,00.html[/url]"

SystemTrading said: "Since I made the call on Soybeans on 4/12, the wheat/soybean spread is down over 18%. If the spread continues to the lows in July 04, it has another 20% or so to go!!!"