What Will Tomorrow Bring?

Sharply higher global wheat plantings based on these prices that's for sure. Is anyone reading this old enough to remember the dim and distant past of 2007/08? What a year that was, you'll never believe it right, what happened was prices went through the roof just like now. So farmers all over the world planted loads of it, grew loads of it, harvested loads of it. Then guess what, they then gave loads of it away after the price completely collapsed as rapidly as it had risen. There wasn't a buyer for dust. No pun intended.

Not only that, they all fell for the "fertiliser is going through the roof, we've only got one bag left, if you don't buy it now you won't get it" line too. So they locked all their inputs in at the top of the market and sold all their outputs at the bottom of the market. Christ what mugs that lot were, of course it could never happen again, not in my lifetime...