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Thanks for the history refresher John, but you’re really missing the point. The reason people are comparing it to 72 is because the bearishness in the marketplace, and the fear created by many analysts allowed way too many sales of soybeans way too cheaply. https://www.agweb.com/opinion/fake-grain-robbery
Buyers in China knew soybean prices were way too low given the situation and they took advantage. I’d bet they were long the board too. But I don’t think anyone is blaming them, or at least nobody has suggested they robbed us at gunpoint. It’s simply a figure of speech.
And IF there is someone mad at China I’d agree that those sentiments are misplaced. We wanted them to buy and they did. Boy howdy.
If you want to be mad, be mad at the analysts calling for $6.80 beans. Be mad at yourself for listening to them and not recognizing the situation. But do understand... predicting the future is a SOB. (I know)
In my humble opinion you need to let it go and focus on the future. There is no point at being mad at yourself or others. It won’t change anything. Everyone was trying to do or advise what they thought was right. Unfortunately we never know what’s right until way after the fact.
The good news is that we’re going into a growing season with some of the best new crop prices we’ve seen in many years. Pay attention. Don’t let last year blind you from the opportunities this year.
