Likewise, the rhetoric from Washington is similar. Economists too are on the long-term bull market bandwagon, just as many were in earlier times. That business reflected, in large measure, Moscow's making up for its creaky farm collectives. Today, grain and soybean sales are to Asia's growing economies. China's shift from a large net grain exporter to a large net grain importer in recent years has been an important factor in the drawdown of world stocks.
Projections call for that shift to continue.
I, too have been caught up recently in the speculative fever on the long side of the market. The long-term fundamentals truly look bullish. But I am troubled by recollections of my own past mistakes in predicting prices. My best track record has been when I was a pessimist when most were optimistic and vice versa. We would be well- advised to pull that article from our dusty archives and heed the advice of Drs.