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To: Raymond Duray who wrote (1300)	3/2/2001 10:26:14 AM
From: Chip McVickar	Read Replies (2) \| Respond to of 12411

Ray, Starlink has been found in corn seed stocks for spring planting in 2001, USDA report in the WSJ. All of what you say in your statements and what others have noted suggests farmers are going to get squeezed this growing season, get no help from the government, face higher costs and screwed up seeds. Many farmers may move to wheat as a crop to avoid soybeans and Starlink Corn. I'd say this was a Good Time to be an Organic farmer. The recent wheat price moves are still range bound, but promising. This appears to be a slowly evolving riddle. Greenspan doesn't need higher grain prices, and with the republicans moving towards noninterventionist market policies the prospect of higher grains prices remains strong IMHamateursO. Some other news sent to me. WHEAT: The market closed weak due to a bearish weather forecast for the US, however, breaks look like buying opportunities. Weekly export sales came in above trade expectations and the pace is now on track to reach USDA projections. Japan buying was slow in their weekly tender as well. The USDA attache in Brazil sees imports from the US jumping to 600,000 tonnes this season and total imports moving up to 8.4 million tonnes as compared with 7.9 million indicated in the February USDA report. US and world ending stocks are on a steep decline and if recent industry forecasts for world production for the 2001/2002 crop season are anywhere near correct, the world ending stocks and stocks usage could hit record lows this season. See futures-research.com for a long-term chart on these fundamental factors. While Pakistan is still holding a tender for old crop wheat exports, officials have ordered a special assessment of crop conditions to determine the extent of the drought damage and determine if any policy changes need to be made. The poor crop in India and increased talk of improved China import demand this season add to the longer-term bullish outlook. FUNDAMENTAL FOCUS: Long-term fundamentals are too strong for international buyers to wait for better prices. Look for more buying over the near-term. TOO CHEAP FOR WORLD OUTLOOK; WEATHER NEGATIVE;