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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (74274)	1/22/2000 4:26:00 PM
From: Joan Osland Graffius	Respond to of 132070

Wayne, >>Do you still hold positions in Interstate Bakeries and Flowers? No. The only two I own positions in today are ADM and IMC. I have been trading ADM and finally have a fairly good average price. It has been a struggle, but it looks to me like ADM has a buy on their stock at around $11. The IMC boys are only a couple of miles from me so I can keep fairly good tabs on them. I want to make sure they are not going to mess with the dividend. <ggg> If things go to heck in a hand basket people still have to eat, even if the government is buying the food; and I guarantee you these farmers are not going back to farming with horses.<ggg> I have close ties to the bread basket of the world, (eastern North Dakota), and there are financial problems out there which will not go away. The only folks that are ok are the kids that have been getting their land from the family estates where the land is free and clear of debt. This group of people are sitting on a fair amount of inventory, since they only sell the grain that is needed for keeping the operations going and buying a few groceries, during this period of low prices for the last few year. But, there are not enough of these farmers to make a difference when inventories get squeezed. I suppose the risk in food is that if we have a depression, the price of grain will go down with everything else. In my opinion we have already had and are having a depression with the grains and soybeans, so this does not scare me. Joan