this is an amazing buy here. Forward PE of 6-7 ??? Come on. Best of breed company. The ag sector is very healthy, never been healthier. Even with commodities being set back, DE will not relive the 1980's any time soon when leverage was a problem for farmers.
AND --- borrowing money isn't a problem for most farmers. We borrow through community banks or the Farm Credit system. I know of no one who banks through all those toxic big banks on the news. And our community banks and FCS system is very healthy.
I farm too. I sold all of my 2008 soybeans at $12.90/bushel. Collected $60,000 hail insurance check for an inconvenient hail storm in June - replanted and collected 33 bushels an acre on replants and another $15,000 revenue insurance check.
I collected about as much from the insurance companies this year as I collected from the actual crop sales.
The gov't check was small this year. Probably about $6,000 for 225 crop acres.
Someday it would be fun to crop my own land in a new fleet of John Deere - I hire custom farmer. Custom farmer had 50 hours on the new JD combine. Custom farmer said he already placed an order for a new combine for next year because used market is so strong that he decided he might as well keep buying new.
i dont know where you guys farm but reality will set in with milk to 9 bucks corn under 4 and beans at 10 there aint much to go around after them prices but good luck i see this testing its low again with out a doubt