|
| The top in crude was put in this week on Wednesday when data shows that demand is finally starting to fall for gasoline. We have the largest stocks in inventory for the past five years.
If/when gasoline/crude breaks.. soon or after the summer driving season.. that will be the true test for the ethanol industry. The fall has always been a weak time for gasoling/ethanol.. should we get the corn in and prices break.. and the dollar rallies. Things could get ugly quickly.
Remember in 1996 we had $5.00 corn.. a few short months later we were back at loan rates...
(Also could see $10 corn on a weather scare this summer... it's going to move.. just don't know which way yet...)
fwiw. | |
|