Saturday, October 23, 2010
(click on image to enlarge)
Looking at California's "income over feed costs" suggests yet another race to the bottom is approaching. The graph only covers through August 2010. September corn prices will drive the numbers lower than anything shown on the graph, all things being equal.
I'm sure Freud would have a term for all this. At the moment, this is what passes for normal thinking. Crazy!