East central Iowa, Camanche, Iowa | "It's really pretty textbook, every time corn (and almost every other market) has made a major low, it attempts a pendulum pullback. This is built into the market, we already know that a rally is coming, don't care what the news is, drought, PP, dollar getting crushed - don't need a reason, it's already in the works. A very high percentage of these attempts fail,..and the closer it gets to reaching its destination, for more time is projected forward for lower prices and the eventual Bigger pivot - from here, the next big bull will be born. Then once we find that pivot, we generally don't run back higher to the old highs, but a process of years takes place of rally, and a multiyear pullback before we go launch the big bull rally."
Nailed it!!!!!
There is always a time delay in farmer spending and as risk takers by nature we tend to delay making changes hoping things will change even when the hand writing is on the wall IN BIG BOLD LETTERS.
I for one am dusting off the old 80's playbook and adding what I have learned over the last 30 years. I bought good used stuff that I will never wear out when the other guys wanted fresh paint. My debt to asset ratio will drop a bit but I will still be able to pay my debts, feed my family and sleep at night.
I am working smarter..... not harder, and I am more patient this time. Chickens always come home to roost. LOL |
The trap has been set.
