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| Ag has hitched its wagon to energy with ethanol. Energy (specifically transportation energy) is in the demand crapper and we are just going to have to ride it out with every other industry during this social distancing thing. When we get the wheels turning we'll have some return to normalcy in both our lives and our markets. China bought a lot of corn and wheat a couple weeks ago. If they come through the way they could as they recover from there own coronavirus woes, we'll have extremely good opportunities. I'll be doing that on paper, waiting on them is a good way to go broke IMO.
I've held the opinion since this started that the economy is on pause, not slowed. What I don't know is how long that can be played out. I'm afraid if we go into mid-summer and all people have is an $1100 check, we have some issues. They'll be spending the down payment on their house, car payments, emergency funds to keep fed and keep the lights on. It could become recessionary even though it shouldn't be on the surface. | |
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The Million Dollar Question
