Max I note you are an ag bull and have been in the background there over the years. This is a correction to drive the hoards towards agriculture for it is the only sector with assets that deserve to be inflated. It is a sector that also stands to benefit from the deflating of the hard commodities boom. We can now enjoy much cheaper bulk ship freight rates and hopefully a cheaper dollar.
The grains will likely undergo a correction here too but longer term the trend is but one way and that is up. Rather than hedging I think as a producer I am better investing in on-farm storage and taking the punt of carrying when value is not ascribed. Agriculture has now become a perpetual game of whacking the mole that can never be won.
Even the top end of town has failed to grasp how this agricultural boom will play out. That is a fantastic opportunity! Bring on the pain, agriculture will shine in its wake. Discount the agrarian base to your economy at your own peril I say ;)
