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| yes this is 2006 in reverse. Everyone was wondering why market was rallying with good crop. it was rallying because the boys could see what was gonna happen to carryout going forward as ethanol plants geared up. Now everyone is wondering why it wont go up with seeming ly bullish weather. Reason the smart guys in the room know that acres are here in a major way globally and we have no new corn use industry to goblle all of this up. I don't care what people say about hogs expanding or putting more pounds on cattle.. Those are all very small metrics. 10-50 mill bushels at best. Corn bulls need to find that industry that can gobble up a billion plus more or 2. It isn't out there and wont be unless we take corn to very low levels. Even then rates/uncertainty may be so high new investment is cut off. | |
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Corn prices going forward
