What does Argentina have to do with my crops in Canada?
By Haley Bilokraly
“Conquer the Volatility” was the theme of a recent presentation by Farms.com Chief Commodity Strategist Moe Agostino during the London Farm Show in early March (he also presented at the Ottawa Valley Farm Show). On each day of the show, Agostino filled every seat and standing spot during his presentation.
Agostino has 42 years of experience in trading markets, commodity risk management, and marketing. He specializes in grain, basis, livestock, feed, futures/options, energy/diesel, fertilizer/input purchases, and both technical and fundamental analysis with a global and local market perspective.
During the presentation Agostino covered every type of commodity risk a farmer might encounter and included insights on everything from the effects of the Argentina drought to observations on USDA reports. Agostino discussed the extreme drought happening in Argentina as an example of the 89-year drought cycle. Argentina has experienced 7 consecutive months of dry and hot weather. Agostino predicts that a dry spell is incoming and cautions farmers to hold on to their crop longer than they may normally.
He also highlighted some crucial reminders to takeaway, such as keeping an eye on crude oil and the Canadian dollar. Additionally, Agostino stressed the importance of being patient, explaining that it is an important skill to avoid “leaving money on the table”.
Watch the full presentation, and learn more about Agostino’s full Commodity Marketing presentation, video below.
Farms.com Risk Management Inc. is an agriculture commodity marketing and price risk management provider for North American farmers, producers, and agribusiness. Sign up for a 8-week trial to receive commodity market advice.