There is a cyclical nature to production agriculture and the commodities markets, but Bespoke Group Director of Research Jacob Shapiro says this current market landscape is different. “This is not a normal cycle; I think we’re undergoing a fundamental structural change in how the global ag economy is working.” Shapiro was the featured speaker at the North Dakota Farmers Union Annual Convention this past week in Bismarck. His talk focused on the changing times for trade, agriculture and economics. “We’re moving away from globalization and who can produce the best product for the lowest cost to countries thinking about food self-sufficiency and food as a part of their national security,” said Shapiro. “That means that all of the logic that had us exporting all over the place for the past 30, 40 years, that goes away.”
