…soybeans, monthlies since 2004:
- The rise in price of soybeans is from higher demand, which is outstripping the higher supply from South American (Brazil, Argentina, Paraguay, other) expansion
- The demand comes from China
- China imports soybeans from South America because it can’t grow enough on its own land
- China doesn’t have enough water to do that
- Ergo, China is importing concentrated water more than soybeans, which are just the carrying vessel
- Soybeans are a proxy to the price of water.
- Water’s never going to get cheap again.
- Neither are soybeans.
- End