Hi @Ras2In a nutshell, and me putting it simply, Powell knows...

Hi @Ras2

In a nutshell, and me putting it simply, Powell knows that he has no mechanism to control the unleashed inflation genie, hence to retain a semblance of credibility he needs to get out in front with the message that it is now acceptable for inflation to exceed expectations "for a time".

This is an early step in a monumental backtrack. IMHO.

So no change from me with my Bullish Sentiment for Ag. In fact, Powell doing this only confirms that previous indicators were right. I am a long term buy and hold for PMY, no question.

I agree with Eric Sprott, that unless you're a fair dinkum trading expert (which I am not) and like trading by the seat of your pants (which I don't), the risk of being out of the Ag space is way greater than being in too early.

If you're out, one day you'll wake up and it will be impossible to get into the the very limited number of ASX Ag stocks at prices that were once considered reasonable, or even "expensive". In the case of PMY, by any measure it is way under valued, so why take that extreme risk and sit on the sidelines?

At the risk of exaggeration, but to make my point clear, in this market it is better to be 20 years too early, than one minute late.

History is clear, Ag is ferocious when it hits its straps.

Best
V