Bruce,
I understand the cash build as I probably should be doing the same, earning's season should be interesting. I am still trying to figure out the best way to play the agricultural stocks with the price of corn and wheat verses the price of cattle and pork. With natural gas below $4 fertilizer companies should see lower raw material cost but with the prices of corn and wheat down so much I am thinking the farmers will not plant as much. Two years ago we trekked into Missouri to duck hunt and was surprised at the amount of corn grown in Missouri and the amount of ethanol plants, companies like PEIX should do good with input cost being cut in half, although it will take a while as they purchase some through contracts directly with the farmers. PEIX has been on a huge run in the last year going from $2.33 to over $18 right now so I have probably already missed that ride. The lower prices should also impact the likes of John Deere since the farmers wont make as much. Any thoughts are appreciated. thanks
JG