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Buxton ND | From a historical perspective before things really started to rock and roll in 2010 we spent a full 24 months UNDER 4.50 building demand,demand that had us 2 + bb of exports. Until this past July we spent about 30 months OVER $6 with roughly half that time OVER $7 corn hurting demand/ export demand and encouraging production of corn/feed grains world wide. This increased production of wheat world wide is what killed wheat today. We're still dealing with the aftermath of that $15-25 wheat from 2008
After the economy rebounded in 2010 Ethanol was still in the growth stage,,,fueling billions of dollars of spec money into grains which is NOT the case today. Before we start talking any kind of huge rally we need to break 4.50 first and the spec money MUST BE ABOARD or we're not going anywhere................... | |
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Realistic upside?
