Wheat League statement on Executive; money and commodities
Farm and Ranch October 15, 2010 The Oregon Wheat Growers League issued a statement this week on the situation between it and Executive Director Tammy Dennee. In a news release issued in conjunction with Dennee, the League states Ms. Dennee resigned as the Executive Director of the Oregon Wheat Growers League and has been retained as a consultant. The release further says that after December 31st of this year Dennee will be free to pursue other career opportunities. The League says its full board of directors ratified the agreement. Speaking during a teleconference with reporters following the USDA’s recent October crop and supply and demand reports, Peter Georgantones of Investment Trading Services in Bloomington, Minnesota wanted to repeat some comments he considered important. Georgantones said we are in an environment we haven’t seen since the late 1970’s. Georgantones: “We don’t have the inflation but you have massive debt. You have printing of money and stimulus everywhere. People don‘t know where to put their money and there is a lot of money going into hard assets like commodities. When we started this conversation gold was down a dollar. Now gold is up eight dollars. That is a $900 move in gold in the 15 minutes we have been talking. It is craziness and that is going to continue and I think the next couple of years are going to be awfully interesting but don‘t put too much emphasis a lot of times on fundamentals because frankly speaking a lot of them don‘t mean a whole heck of a lot right now. It just comes down to money has to go somewhere. It is coming into commodities. You have to be careful. You have to have risk points established but you are going to see some crazy high prices in a lot of different areas.” And says Georgantones, volatility every single day. I’m Bob Hoff and that’s the Northwest Farm and Ranch Report on Northwest Aginfo Net.
