Following are hi lights of Don Coxe's weekly call:

*There were massive unwindings of positions in agricultural space given the unexpectedly high bumper corn crop. This was a shock which resulted in a pullback in leading agricultural stocks.

*This was a disappointment for those who held those stocks but still think long term agriculture is a place to be as it is not nearly as cylical as energy and base metals.

*However, he is not saying that this is a buying opportunity but for those long term holders he sees no reason to disturb their long term positions but does caution that the stocks could weaken in the shorter term

He then spoke a bit about iron ore and that market but my impression was that he was a bit embarassed and caught off guard by the severity of the correction and the fact that he did not see it coming or the large corn crop.