Commodity markets are having a powerful reaction to Russia’s invasion of Ukraine. World leaders warned about this conflict, but the markets were caught flatfooted when it happened. Advance Trading Risk Management Advisor Tommy Grisafi said really smart people didn’t know this was going to happen. “Folks were out of position and I think you’ll hear a couple big ag names in the next few weeks announce that they have a pretty big financial problem with prices escalating this quickly.” In the Red River Farm Network video podcast called the Bull Pen, Grisafi said farmers should be able to participate in a volatile market. “Get an options and futures account and execute trades yourself; it’s not 1970 and you don’t need to wait for the elevator guy to wake up and take your order,” said Grisafi. “It’s 2022, Russia invades Ukraine and we’re all walking around with $1,000 smartphones so let’s be smart and start using them.” Farmers can also have a broker or leave orders at the elevator, but Grisafi said the markets are not going to wait for everyone to wake up and discover prices. The Bull Pen video podcast can be found on the Red River Farm Network YouTube channel, Facebook and Twitter.
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