Re: $12 beans, See what you've missing for four years.
"$12 beans, See what you've missing for four years." There is a lot of roosters that take credit for their crowing causing the Sun to rise. Here`s a summary of 12 years of bean prices: 2008 a spendthrift new president (just like the 2020 *winner) was inaugurated, commodity funds were developed with thoughts of hyper-inflation (QE and $1 trillion deficits) Beans and all commodities went up "peak oil!" $150/barrel, $2,000 gold and $20 wheat and $16 beans, funds were always long. China bought because we were running $400 billion trade deficits with them with no end in sight.
2012 add a drought, 120 bushel nation corn yield...and yeah $8 corn. Howeeeeeever, 8 years of unprecedented ABOVE trend yields in this country and all around the world pretty good yields. Then add the 2016 President was finally going to get tough on trade and China made bets the last couple years of their hand that was only a pair of 2`s. So we did have a rough patch a couple years, a US +2 billion bu carry of corn in a "just in time" inventory world was indeed burdensome and "awash" in wheat (also used as a feed).
"peak oil" turned out to be poppycock, it`s hard to have $8 corn without $4 gasoline and the inflation never made it to mainstreet and was capitalized into the stock market. Now the Sun is rising. Jupiter and Saturn are hooking up first time in 400 years, so we have $12 beans and lived happily ever after, thee end.