| My thought is that if true fundamentals took full control we'd be at $2 and $6. No end user needs to bid up since supply is plentiful. Thankfully for the grain side of me, that's not the case.
We would need ending stocks at approximately 2.75 B on corn and 630 M on beanies to equal the last time prices were at those levels. What if actual ending stocks turn out to be more like 1.4 B and 300 M? |
Explaition
