Fair enough. I'd love to see farmers have a really good year. Problem is, high price is only generated from some poor buggers, somewhere in the world, having a really bad year. If it's a high price year here in Oz then it'll mean El Nino, low yields and overall poor revenues.
In general though, betting on grain markets based on weather is like going to the track. As always, should be some good basis trades available and will be looking to get short cbot if the funds get too long.
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How low can wheat go?, page-101
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