grainmarkets

There are numerous macro factors driving elevated inflation. But in some categories, there also seems to be a lot of bad luck. When it comes to the US wheat market, the weather has been awful. After a long drought, farmers have been faced with an extraordinary amount of rain. As such, the spring planting season has been one of the worst on record. Of course, this comes amid overall bad conditions, with prices already elevated, owing in part to Russia's invasion of Ukraine. So to understand more about what's going on for farmers, we spoke with Angie Setzer, a co-founder of ConsusROI, which helps farmers make planting and hedging decisions. 

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When it comes to commodities, Russia's invasion of Ukraine has had a notable impact on the price of oil and natural gas. It's also a huge deal for wheat, and food more broadly. Ukraine is a massive player in the global wheat market, and the planting season is basically right now. What's more, Russia is also a big wheat seller, and Belarus is a big supplier of fertilizer. On this episode of Odd Lots, Tracy Alloway and Joe Weisenthal speak with Scott Irwin, an agriculture economist at the University of Illinois, about what he calls the biggest disruption he's seen in his career.

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