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.
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