Red-Hot Resources

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Friday, February 08, 2008

Hey, Cramer!

A certain CNBC commentator has VERY LOUDLY been saying that the agriculture boom is over.

Now sure, I recommended taking gains on some agriculture stocks in my Agriculture Boom report. But those stocks had racked up such big gains in such a short time that it was just smart to book gains and/or half gains.

And I told a bunch of people at the World Money Show today that I would wait for a pullback in agricultural commodities before trying to buy them.

But does this look like the end of a boom to you?…

Soybeans Surge Near Record as Improved Global Demand Shrinks U.S. Reserves Soybeans rose near a record after the U.S. government said supplies will fall to a four-year low before the next harvest because of rising global demand for livestock feed and cooking oil.

Cotton Rises as Dollar's Drop May Boost U.S. Exports; Farmers May Sow Less Cotton rose on speculation that a weaker dollar will boost U.S. exports and record grain prices will encourage farmers to plant more profitable crops, including wheat and corn.

India May Import More Wheat, Supporting Prices, U.S. Wheat Associates Says Imports of wheat into India, the world's second-largest consumer of the grain, may climb 68 percent this year, supporting prices that are at a record.

Wheat Extends Gains to Record on Depleted Spring Grain Supply U.S. inventories of hard red spring wheat, used to make bread and pasta, will fall 25 percent from a year earlier by May 31, according to the Department of Agriculture. Canadian wheat supplies tumbled 30 percent last year, Statistics Canada said this week.

Corn Rises on Smaller Argentina, Mexico Crops, Improved Feed-Grain Demand Corn rose for the first time in four days after the U.S. government forecast smaller crops in Argentina and Mexico, which may boost demand for U.S. grain used as animal feed.


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