Uplifting news for ag bulls from, of all places, the Vatican.
"The current economic crisis," the Holy Father began, "must be taken in all its seriousness: It has numerous causes and sends a powerful message about the need for a profound revision of the model of global economic development."
And one area that needs revision and "a strategic re-launching," he added, is agriculture.
"I believe that this is the moment for the reevaluation of agriculture, not in a nostalgic sense, but as an indispensable resource for the future," the Pontiff affirmed.
His Holiness has even picked up on the trend of booming farmland and the new rural landgrab...
"More than a few young people have already chosen this path," The Holy Father concluded. "Also, many professionals are returning to dedicate themselves to the agricultural enterprise, feeling that they are responding not only to a personal and family need, but also to a 'sign of the times,' to a concrete sensibility for the 'common good.'"
The Pope rightfully points out the problem of the traditional production/consumption paradigm and calls for long-overdue change. Hopefully the people burning (gov subsidized) corn for (gov subsidized) fuel will heed his message. Of course they won't.
None of the reporters present managed to get his buy, sell, or hold opinion on soybeans or the Agribusiness ETF ($MOO), but at least we know he's on board with the theme in general.
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