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June 21, 2006
The Future is Corn
The Chicago Board of Trade continues to report remarkable numbers for the growth in traded CBOT corn options. They reached a record high open interest of one million contracts earlier this week, up 45% year-over-year. While some of this is just general commodity nuttiness, there can be little doubt that much of the corn option euphoria is fuelled (all puns intended) by ethanol.Here is more from a recent CBOT presention:
- Agriculture volume up
- 8% Year 05 vs. Year 04
- 23% YTD May 06 vs. YTD May 05
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Just be sure to sell your position before 2012. That is when the current sunspot cycle will peak, after which temperatures will decline again. Then we can repeat the global cooling panic of the 1970s.
a sound subsidy play. just like buying halliburton stock in 2003. regardless of its merit, once the government says "we like this", the money is going to pour in regardless.
Interesting point about 2012. I've heard a lot about 2012, but not that.
Going with the wordplay, I'd say the growth has been amaizeing!