The roaring ag economy.Corn consistently above $5/bu, despite a record crop, soybeans hovering at their all-time high of $14/bu, spring wheat touching the $20/bu mark. These are truly remarkable times for agri-marketers. And it appears the good times will continue to roll. In a recent speech, Murray Wise, CEO of Westchester Group, one of the nation's largest professional farm management and real estate firms says he expects the ag industry is in for a good ride through the next decade, at least. "This is not an ethanol bubble," he says. "This demand-driven market is largely due to growing economies in other countries, especially in China." Wall Street has noticed. Respected Bear Stearns Analyst Ann Duignan points out that USDA now projects farm cash receipts to climb 41% over the next three years, totaling $349 billion by 2009. "In our view, we are only in the beginning stages of this ag cycle," she says. Allowing investors to benefit in these exciting times are innovative firms such as Van Eck. For a glimpse of the excitement the ag industry is generating among the investment community, be sure to read this issue's cover article. |
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