Nebraska aka the boondocks | as we are told incessantly, it is a futures market. They trade the future, the future comes and goes and they still look to the future. Nothing will change until the titanic hits an iceberg. I would almost guarantee that if this brazil crop comes in at 96-97, they will start trading some other supersized crop, in the future and it won't mean diddly. One need only look at the actual carries in this country the last three years. As an aside, I read an article the other day, that when you look at the area as a whole, Paraguay, Argentina, Brazil etc., the whole could come in several mmt less than last year, but we don't hear about that. |
Did the Drought End ?
