It is sad but so true.
The graph to the left not only describes what has happened to the grain markets but also mysteriously looks like a Christmas tree. I found this picture at the blog Eds World: Grain Marketing. As Ed describes in the blog, he is not sure if he should laugh or cry.
As Ed states you should choose to laugh because if you think back on the last 24 months it really is an unbelievable story. In one breath ethanol is being blamed for high food prices and shortages of grain and then prices have bombed lower with higher supplies and a growing global recession.
We need grain prices to get to a level where both the farmer and the livestock industry can be sustainable in the long run. A major part of this is stability in the price and not the massive price swings as we have experienced in the past. When the price moves that quickly no one can capitalize on opportunities. The major question now for grain prices is what happens next?