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* The Gsci Agriculture Index Has Already Reversed Around 80% Of Its Rise In Summer 2012 As Farmers Have Planted A Much Larger Area
document * The GSCI agriculture index has already reversed around 80% of its rise in summer 2012 as farmers have planted a much larger area House Oversight Committee — Epstein Estate Records (Nov 2025)

which means a higher likelihood of much higher future supply. We stay short for now as we think this downtrend has further to go. We are also long gasoil vs. Brent. Global inventories are very low and demand from Asia is picking up