missed the boat on this one...

The Financial Times reported "the lowest level of wheat stockpiles in 25 years" today. On September 14th, I predicted that El Nino would lead to "rising crop prices and lower oil and gas prices." Too bad I didn't buy wheat futures at the time. They've gone from 450 to a current 528'4. I should have seen the signs: federal ethanol subsidies giving a greater incentive to plant corn, El Nino causing drought in southeast Asia and Australia, and high energy costs being passed along to consumers.

Well, maybe its time to look at cattle futures again.