Veteran investor David Roche has a contrarian call on grain prices, says prices will soar
Publishing timestamp: 2023-10-02 05:34:19
Summary
The article discusses how wheat prices have been falling due to bets on increased supply from the US, Russia, and Ukraine. However, David Roche, president and global strategist at Independent Strategy, disagrees with this consensus and expects an annual increase in wheat prices over the next two years. He cites potential disruptions from Russia, climate change, and El Nino as factors that could push prices higher. Roche predicts a 13-15% annual increase in wheat prices and expects the stock-to-usage ratio for wheat to fall by around 5% per year until the end of 2025.
Sentiment: MIXED
Tickers: @W.1,
Keywords: russia, economy, business news, u.s. economy, investment strategy, breaking news: investing, commodity markets, natural disasters, wheat (mar'23), breaking news: markets, agriculture, weather, breaking news: economy, ukraine, markets, united states,