Great analysis, the challenge is 2021/22 is as good as Ag gets. it’s raining, global commodities are high and interest rates are at a 90 year low. When it stops raining and prices return to average and higher interest rates. Wam bam the wheel will turn. Even capital values could be impacted and heaven forbid even the management fees..... less snouts in the trough to survive the long term.
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