One bright spot within the space was Ag traders who specialize in the meat markets – cattle and hogs (the infamous pork belly contract is no longer, unfortunately) – had a better go of it than their grain trader counterparts. And finally, the silver lining for these managers is that the natural phenomenon El Nino and its sister La Nina have the potential to wreak havoc on the Midwest growing season this summer depending on how it all plays out; if it’s the perfect storm (or perfect ocean temperature in this case) we could see some fireworks from the Ag space by this time next year.
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