Courtesy of ZeroHedge. View original post here.
Rosenberg’s note today mentioned the global bull market in agriculture. Which,as I recall, was becoming an issue pre-lehman. Inflation is just about the only thing stopping food prices from levitating once again. Trade balances, supply constraints, changing weather patterns, and emerging market demand continue to support a structural bull market.
Hugh Hendry commented back in 2010 (below) that unless there was a major recession in Asia, pressure on pricing would develop. As it stands, it looks like Asia will not avoid a collapse. However, if China pulls another rabit out of the hat – get ready to pony up at the grocery store.
The holdings in Hugh’s Ag fund:
