SASKATCHEWAN WHEAT POOL ( SWP.B - TSE ) Message Board

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Gold/Mining/Energy : SASKATCHEWAN WHEAT POOL ( SWP.B - TSE )

SWP 28.15

-0.3%

Nov 3 3:34 PM EST

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To: Kitskid who wrote (16)	6/25/1998 4:34:00 AM
From: Glen McGlaughlin	Read Replies (1) of 47

Alec;sorry for the delay in responding to your inquiry.I have been too busy dumping the 4.75" of rain that fell on my farm last week!Despite the prospects for a near average crop,cash flow and net earnings in 98 from the sale of that crop could be down 25-30% due to the sharp drop in US wheat prices over the last 4 mths. Most of last years crop has been delivered and sold,therefore SWP's 4th qtr earnings will be sharply lower than last year.This scenario is already exerting downward pressure on share prices.To-day SWP closed at $16.75. I would not rush in to buy just yet since we could see $15 tested over the next 90 days if Q4 is as weak as many think.Certainly if one takes a longer term view SWP at $15-$16 should be an excellent buy,but it must be patient capital that is not needed for 18-24 mths. Just my opinion from the ranch. GRM

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