(1) If you're so bullish on the grains, you should focus on trading them instead of being distracted with ag-based companies. (2) Generally, a bull market in grains produces declining profit margins for grain-reliant companies because they tend to keep their finished-goods prices steady and absorb the increased grain price out of their own pocket. (3) During a sustained bear market in grains, grain processors' profit margins widen out. That's a better time to buy those stocks.
