With all of these prices going lower, I’d love to see some of the supporting arguments from the Fed to raise rates another 4-5 times this year.
Atop of everything else, grains are hitting 9 year lows and these poor bastards are hoping that a flood, mind you, will help alleviate the hell they find themselves in.
The Bloomberg Grains Subindex fell as much as 2.1 percent to 38.77, the lowest since Sept. 15, 2006. Beneficial rain boosted prospects for crops in Brazil, and Argentina exporters are increasing shipments, partly after the government relaxed tariffs. World equities had the biggest drop to start to a year in at least three decades, led by a rout in China.
“It’s just a culmination of everything,” Don Roose, president of U.S. Commodities in West Des Moines, Iowa, said in a telephone interview.
Remember the great boom in potash and fertilizer stocks? Well that’s dead. POT, MOS, and IPI are down anywhere from 35-80% over the past two years.
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already sold the farm in 2014. land prices insane. I LOVE THIS MARKET !
Who da thunk that paying attention in my Man’s Atmospheric Environment class in the 80s would payoff today. Knowing weather patterns will tell you the conditions are favorable for record grain yields.
Also I love that the class started with “Man’s”. That was back before big boobed babes were allowed to be meteorologists. (extra Fox networks)