India bans wheat exports

India is reeling from the recent heat wave that ravished much of the country over the past couple weeks. They have announced a wheat export ban causing future prices to shoot up on the news (Link).

We are hearing spot elevator bids are approaching $17/bus in Alberta, however, some producers have said elevators aren't buying anymore old crop even though their spot prices are posted.

After the past couple years (COVID lockdowns, Russia invading Ukraine, and supply  shortages) the health of globalization is starting to be questioned in the news.

​Some are arguing it is stronger than ever because global trade keeps hitting new records  ($28.5 trillion in 2021, up 25% from 2020 (Link)). I for one am curious to see how our world navigates the next 12 months in the face of 8% inflation and numerous questions in the Northern Hemisphere surrounding crop production and quality.