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| Great discussion. If this corn crop continues to deteriorate we are not going to be able to do both. Having spent some years with the CME I can tell you this much. "Reasonable" prices will not be the outcome if the supply gets really tight. At that point it ceases to be a commodity market becomes a money market. Somebody pointed out the $12.90 beans in 1974, adjusted for inflation would be $62.50. Several years ago Minneapolis wheat went up $5.00 during the day and closed $4,00 higher at $24.00. This is no way to run a country but we insist on it. | |
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Ethanol is the problem
