I just read John Phipps most recent blog about farm finances, fertilizer prices, etc. (http://johnwphipps.blogspot.com/) and realized it sounds a lot like someone trying to explain our recent banking industry. John’s a smart guy who I respect…so I’m worried.
First, it was confusing….lots of stuff that sounded like speculation and manipulation. Second, it was complicated….not complex or intelligently sophisticated, just complicated. Third, it was about repeatedly growing the same crop on the same land….and all the ‘inputs’ necessary to reuse the soil every year for the same crop or a very similar rotation crop.
The grain farming community is worried…and dependent on all those costly inputs.