doesn't the fact that oil continues to make new highs make the ag story more and more desirable...?
my logic is that as it continues to rally there will be a greater incentive for countries to divert their crops to biofuels for energy independence. also, if you are a farmer and your input costs are soaring (i.e., oil being a major input cost for a farmer) then you have to charge more for your product just to get by.
everyone seems to be in a frenzy for energy stocks but the ag story has gone very quiet recently with wheat 40% off its highs. to me it seems like the fundamental picture has been getting more and more bullish.
