One market analyst feels the commodity super cycle is now over.
Mike Jubenville with Pro Farmer Canada says we saw commodities generally bottom out in 2002, and then outside of a few blips in 2008-2009, we saw a significant rally over the next few years.
He feels the cyclical turn of that has now made a move to the downside, but adds it's not doom and gloom for agriculture.
"There is a strong physical demand for agricultural products that has come unabated," Jubenville says, "however the pricing environment has switched from expectations of $14 canola to one that's into a more sideways, sluggish environment. So we could be trading anywhere from $9.50 per bushel to $11 per bushel until such time as the next catalyst comes along to give us the next bull market."
Source : Steinbachonline