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| I suppose we will find out how bad the farm economy really is after 3 good years.
If farmers are in that bad of shape and really mismanaged their good years then they will need to sell that unpriced grain.
On the other hand, let's say there really are old guys with lots of cash, then those guys can certainly afford to hold out much longer than in a string of bad years.
My guess if there will be less grain let go this year than some other years. Those grain storage expansions built by farmers in the good years are looking at a good chance to see how that all works out.
That should sort out who thinks farmers mismanaged themselves. Unless someone wants to take the position that mismanagement occurred by not selling grain even though the owner of the grain was in good financial shape. I don't mind holding grain vs holding cash right now. The massive devaluation of of our currencies is still rolling along. If I had cash then I need to get rid of it and convert it to something else, or I can hold grain and convert it to another asset when the time better suits me. | |
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Funds starting to cover.. how high? $1 Corn.. $2 soybeans??
