The question “Is Agriculture the last bargain” is actually a relative question. I think both gold and silver are cheap compared to where they’ll be a year from now. Oil too, probably. But in terms of the commodity rally, agriculture is the last bargain, according to Societe Generale. Here’s a chart they produced …
Societe Generale produced a report noting that the U.S. department of Agriculture estimated last week that global grain stockpiles are likely to total about 11 weeks of supply next year,. That’s close to a low of about 8 weeks in the 1970s, as shown in the report.
I have a story for UncommonWisdomDaily.com today, titled “A Billion Hungry Mouths,” about one of the driving forces in agriculture. Go give it a read.
More on this topic
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SocGen: Gold to $1500 in 2010
(Expected Returns, 12/16/09)
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Albert Edwards of Societe Generale Remains Firmly in Bear Camp, Calls for New Lows in 2010
(Fund my Mutual Fund, 11/10/09)
ECRI: ECONOMIC OUTLOOK REMAINS POSITIVE
(THE PRAGMATIC CAPITALIST, 12/11/09)
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