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Mascoutah, Illinois | In your opinion, do we have any geopolitical premium in the grains? The reason I am asking is because the fundamentals in crude oil are terrible but the price action is starting to remind me of the spring of 2008. The fundamentals were much more sound in 2008 for obvious reasons and some of the move higher in that timeframe seemed warranted. This move in crude feels more like an inflation play or a geopolitical play. If Iran and Israel get involved, I don't believe it would take long to see oil at "par" or higher.
If we do not have any geopolitical premium in the grains, I am of the opinion we could see a sharp leg higher assuming crude stays the course. Where weather premium possibly gets built into this story maybe earlier than normal this spring. What are your thoughts?
I thank you in advance for your help, your stories, and your experience in deciphering information. (Thanks again for the "Peanut Roller" comment. It is the funniest thing I have heard in quite sometime.) | |
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RUMBLING GUT
