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Wheat Futures

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Wheat Futures

Unread postby 3aidlillahi » Tue 10 Jun 2008, 17:34:18

I rely on grains, specifically wheat and rice, for a large portion of my nutrition and calories. A few months ago, I was able to purchase spaghetti for 59 cents a pound and I bought a good bit (had a peak inventory of about 60 lbs). That in-store price has now risen to more than a dollar/lb even in larger quantities, with it usually being around $1.20-$1.30.

I've noticed that wheat futures have gone down considerably from Feb '08 when at more than $13/bushel. They are now nearly half that price at $7.885/bushel for July delivery. I'm just wondering how long should it take for these lower prices to filter into the market specifically for spaghetti?

I'm not expecting these prices to continue plunging but maybe stabilizing for a few months before showing more volatility and an upwards trend medium term. Therefore, I'm trying to stock up as much as possible while also saving as much money (so I can buy more). Just trying to anticipate the market so I can buy on the dips and ride out the swings.
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Re: Wheat Futures

Unread postby cowuvula » Wed 11 Jun 2008, 02:58:23

Just buy the spaghetti when you need it. Everytime it goes down buy more.when it goes up then eat it.

buy low and eat high
Be ready...
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Re: Wheat Futures

Unread postby kpeavey » Wed 11 Jun 2008, 09:11:39

3aidlillahi
have you considered making your own pasta?
flour+egg is the simplest recipe. Any flour will work, durum is most popular. A grain mill can produce the flour, backyard chickens for eggs. You can make it, then dry it for later use. There is a whole world of pasta to explore. Whole grains, properly stored, will hold up for years and allows you to buy more whole wheat than you could the processed product.


I'm looking for 1000 pounds of whole red winter wheat. I can get the stuff but the freight charges are prohibitive.
If you want a picture of the future, imagine a boot stamping on a human face--for ever."
-George Orwell, 1984
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twenty centuries of stony sleep were vexed to nightmare by a rocking cradle, and what rough beast, its hour come round at last, slouches towards Bethlehem to be born?
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Re: Wheat Futures

Unread postby Micki » Wed 11 Jun 2008, 09:49:40

I guess this isn't good news for you guys then;
$this->bbcode_second_pass_quote('', 'L')arry Matlack, President of the American Agriculture Movement (AAM), has raised concerns over the issue of U.S. grain reserves after it was announced that the sale of 18.37 million bushels of wheat from USDA’s Commodity Credit Corporation

“According to the May 1, 2008 CCC inventory report there are o­nly 24.1 million bushels of wheat in inventory, so after this sale there will be o­nly 2.7 million bushels of wheat left the entire CCC inventory,” warned Matlack. “Our concern is not that we are using the remainder of our strategic grain reserves for humanitarian relief. AAM fully supports the action and all humanitarian food relief. Our concern is that the U.S. has nothing else in our emergency food pantry. There is no cheese, no butter, no dry milk powder, no grains or anything else left in reserve. The o­nly thing left in the entire CCC inventory will be 2.7 million bushels of wheat which is about enough wheat to make ½ of a loaf of bread for each of the 300 million people in America.”

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Re: Wheat Futures

Unread postby kpeavey » Wed 11 Jun 2008, 14:03:30

Micki, we tore that one up in this thread
If you want a picture of the future, imagine a boot stamping on a human face--for ever."
-George Orwell, 1984
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twenty centuries of stony sleep were vexed to nightmare by a rocking cradle, and what rough beast, its hour come round at last, slouches towards Bethlehem to be born?
-George Yeats
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Re: Wheat Futures

Unread postby 3aidlillahi » Wed 11 Jun 2008, 17:11:11

$this->bbcode_second_pass_quote('kpeavey', '3')aidlillahi
have you considered making your own pasta?
flour+egg is the simplest recipe. Any flour will work, durum is most popular. A grain mill can produce the flour, backyard chickens for eggs. You can make it, then dry it for later use. There is a whole world of pasta to explore. Whole grains, properly stored, will hold up for years and allows you to buy more whole wheat than you could the processed product.


I'm looking for 1000 pounds of whole red winter wheat. I can get the stuff but the freight charges are prohibitive.


I'm a rising senior in college. I don't think I have the ability to buy hundreds (1000+?) of pounds of flour and eggs to make pasta or other processed grains with and be able to transport it to grad school (I'm hoping Colorado or nearby for geology; I'm NC now).

I'm also cash-strapped. I've "over-extended" myself on my current batch of rice, pasta, sauce, butter, silver, gold, books, etc for the next couple of months.

But I'm definitely going to look into that and try to make a few pounds just to try it out and see how well I can do it. Then if I have the money and storage space, I'll get into it in grad school next year.

Any books or websites that show how to do it? I imagine just go to the storage section for storage ideas.

$this->bbcode_second_pass_quote('', 'I')'m looking for 1000 pounds of whole red winter wheat. I can get the stuff but the freight charges are prohibitive.


How much should I be looking to spend for 100 lb increments including shipping to NC? Just roughly.
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Re: Wheat Futures

Unread postby kpeavey » Thu 12 Jun 2008, 04:29:47

Wheat prices I've seen are a buck a pound, figure twice that for shipping. I'll not be dropping that kind of cash when I can get beans and rice locally for a fraction of that price. I've gathered some seed, I'll try growing some different grains, learn what it needs, how it grows.

A basic pasta dough:
1 egg
flour, about a half a cup, maybe more, maybe less

step 1: wash your hands and everything else that will contact the food

crack the egg into a bowl or onto a clean table
add flour, mixing it with you hands or a tool until it forms a dough
experience will tell you when the dough is right
roll the dough
slice
pasta is ready
cooking it from fresh will take considerably less time than you may be used to, 3-4 minutes after adding to boiling water
to dry the pasta, hang it over a cabinet door

Thats as simple as it gets, there are plenty of variations. Durum flour is more popular than say hard red winter wheat. Any grain will work, the difference is flavor and texture. You can add a pinch of salt, a little oil, or dried herbs. There are machines that will roll out the dough for you as well as slice it. I have an Atlas 150 Image
its a peach-does the job, stainless steel, hand operated. Shop around for best price.

There are drying racks, marble cutting/rolling boards, electric machines, mixers, all sorts of appliances out there. All you need is a countertop and a sharp knife.

A guy making pasta

step 2

step 3

He's a bit anal retentive, but he gets the job done. I'm a bit more Brutish when I make it.

oh-a dough knife is handy to have around, especially for clean up
here's a link, Walmart carries them for around 10 bucks.

If you just can't wait to try it, a small bag of flour and a dozen eggs can be had for less than $4, will give you enough ingredients to make a few batches.
If you want a picture of the future, imagine a boot stamping on a human face--for ever."
-George Orwell, 1984
_____

twenty centuries of stony sleep were vexed to nightmare by a rocking cradle, and what rough beast, its hour come round at last, slouches towards Bethlehem to be born?
-George Yeats
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