Posted by JHM on 6/3/2008, 2:40 pm
164.58.17.94
NPR Radio did a segment on oil futures trading last Thursday, in comparison to actual market value. They quoted $80.00 a barrel actual fair market value. ($80.00 a barrel) when the futures market was at 80.00 the price of a gallon of diesel was $1.98 per gallon. Compared to 136.00 a barrel to electronic trading. (4.50 per gallon) Also, Anyone who is living in the corn belt can testify to thousands of bushels of corn laying on the ground under tarps because the grain bins at all the co-ops are still full or trying to get their quantities down for summer harvest.
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