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| The DOW closed at the lows, oil closed down, the dollar is going up, yet we are up big again overnight. One would normally think that all of these things would be bearish for grains. Is this simply irrational euphoria driving this? What about the poor saps who have shorted Minn. wheat? Wow! I talked to my grain merchandisers today with both Cargill and ADM and they said that these futures prices are going to end up hurting the farmer. The basis continues to widen and the inputs continue to increase. I'm not complaining about high prices, but it sure seems that they should level off somewhere around here until acreage numbers are determined. I have never seen such interest in commodities. Maybe it is here to stay.
Is it simply inevitable that we are going to hit the Goldman numbers by June? They have already nearly hit the Chicago wheat target. ($6.50 on corn and $15.60 on beans don't seem that far off, either)
Can anything slow this train down? | |
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Will anything stop this rally?
