Contrarian Investor David Roche Predicts Soaring Grain Prices

Veteran investor David Roche, president and global strategist at Independent Strategy, has a contrarian view on grain prices, predicting a 13-15% annual increase in wheat prices over the next two years. Roche cites potential disruptions in grain supplies due to climate change, including reduced water levels in crucial arteries like the Mississippi River, as well as the impact of El Nino. He also highlights the ongoing Russia-Ukraine war as a factor constraining global grain supply. Roche expects the stock-to-usage ratio for wheat to decline, leading to higher prices.