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I think the LDP that the wheat farmers have received because of low prices has
them sitting pretty for the time being. This payment may disrupt some of the
markets seasonal patterns. I don't see a big move to the upside for wheat
unless you get some real demand from China. There is a possibility that
China's wheat reserves are overstated and that they could show up one day to
buy a big chunk of wheat. Unless something like that happened I don't see
wheat gaining significantly on corn, IMO.
Regards,
John J. Lothian
The Price Futures Group, Inc.
In a message dated 12/16/98 1:53:29 PM Central Standard Time,
RMartin198@xxxxxxx writes:
<< Curious if anyone has opinion March Wheat to March Corn Spread.
Currently trading around 54 cents off its low of 48 cents and looks to us as
if it may have 65/70 cents potential. Russian Aid Package on wheat, farmer
year end selling of corn, etc....
Appreciate any comments
Thanks
Bob Martin
Trade Center Inc.
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