futures market

Farmers know every year they’re going to encounter surprises from things out of their control, like drought or pests.

This year, great growing conditions led to a bin-busting soybean harvest, but a tit-for-tat exchange of tariffs with China meant that country went from being a major buyer to virtually ignoring U.S. soybeans.

Kristi Koser / Harvest Public Media

From Harvest Public Media:

At the grocery store, processed foods like cereal, crackers and candy usually maintain the same price for a long time, and inch up only gradually. Economists call these prices “sticky” because they don’t move much even as some of the commodities that go into them do.

Take corn, for example, which can be a major food player as a grain, a starch or a sweetener.