Analyst Kluis says energy markets will be key to turnaround
Market analyst Al Kluis says unless there’s a major turnaround in the energy markets, he doesn’t see much potential for a rally in ag commodities.
“A lot of people call and say, ‘Al, when are things going to turn around in the grain markets’,” Kluis says. “Well, I think one of the things we have to see is some type of agreement reached between Saudi Arabia and Russia—and a basing time period and eventually higher prices.
“But as long as we have rising unemployment and the price war going on—I don’t want to be a pessimist, but I have to be a realist—this is not going to be a quick turn.”
Kluis made those comments during a risk management webinar sponsored by the Iowa Soybean Association.
AUDIO: Excerpt from Al Kluis’ webinar comments