Commodities Focus: We’re not in Kansas anymore - Uncertainty on both side of the Agriculture equation

Tracey Allen discusses the unprecedented supply side uncertainty across global grain markets that continues to fuel heightened volatility and to weigh on liquidity across exchanges. On the consumption side, the durability of grain and oilseed demand at current elevated price levels is being questioned, not least with rising COVID lockdowns across China; however, historical elasticity relationships suggest there is limited room for destruction of wheat demand.   This podcast was recorded on 31 March 2022. This communication is provided for information purposes only. Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-4046356-0 https://www.jpmm.com/research/content/GPS-4040956-0 https://www.jpmm.com/research/content/GPS-4036864-0 https://www.jpmm.com/research/content/GPS-4029378-0  for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.