Over the past 20 years, I have watchedthree major bull markets in the grain m markets. Each one had the potentialto have a huge impact on your farm's profits, and so will the next rally, when it comes.Each rally is different, but how you should handle it is not. Let's start by looking back at how each of the three rallies unfolded and what happened when the trends changed. Rally #l:The first rally started after the lows in 2006 and took prices much higher from early 2007 into June 2008. This rally started as a demand-driven market. When spring weather problems developed, prices spiked higher into June. Prices put in a major high the third week of June. Then, as the nation entered a major financial crisis and recession, stock and commodity markets crashed. Prices eventually made a low in December 2008. However, the grain markets stayed under pressure for twoyears, and prices didn't bottom until the harvest of 2010.
展开▼
