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when looking at various interior cash market prices for wheat it needs to be remembered that the prices are in "ranges" between bids and offers. this complicates the interpretation of the data since heavy volume may occur at one end of the range or the other, or the bids and offers can be just plain "nominal"(read: useless). this trashes any hope of using the data without knowing the weighting of price by volume. then again, a lot of ca***rades are just not reported. it is not as much of a problem with export bids and offers. <br />also much of the strength in minnesota cash wheat prices versus other locations has to do with the fact that minnesota has a very large mill demand. the mills pay up for reliable access to the supply of grist. wheat prices near mills are always premium. <br />almost all of the discussion on this thread regarding wheat pricing and movement contains comments and conclusions which, though appearing quite sensible and logical, would not be either made or relied on by anyone in the grain trade. <br />the data you folks are relying on is just to simplistic to be acted upon by any professional trader. i would suggest not basing any "policy decisions" on it...... <br />manipulating this kind of soft data is probably what allows advesaries in the regulatory and legal hassels you mention to stretch cases out for decades. it is useless for practical application and invites misinterpretation and debate.
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