The Speaker takes us through the agricultural cycle and what it means for prices in grain markets.

The grain markets, especially corn and soybeans, are highly correlated. This is because the demand for corn and soybeans come from the same sectors—biofuels and meat. On the supply side, if one is overpriced versus the other, acreage for the next crop cycle will switch from one to the other. Wheat is a little less correlated as it is mainly a food grain that can work into the feed (meat) sector if there is a s

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