This Feels Like 2008… But Not Where You Think

Markets are moving higher—but the foundation underneath them isn't telling the same story. In this episode, Jon Prischmann and Ryan Tungseth break down a growing disconnect across the grain markets, where soybeans are climbing on fragile footing while corn is quietly strengthening in ways that matter. They explain why this rally has echoes of 2008, how inflation-driven buying can create opportunity—and risk—and why spreads and carry are flashing warning signs in beans. The conversation shifts to strategy, including how to think about protecting downside with options, why patience still matters in corn, and what early signals in the cash market could mean for the months ahead. If you're trying to separate real demand from headline-driven moves, this episode lays out what to watch next.