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The Secret Financial Life of FoodFrom Commodities Markets to Supermarkets$
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Kara Newman

Print publication date: 2014

Print ISBN-13: 9780231156714

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231156714.001.0001

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Introduction

Introduction

Buy Breakfast

Chapter:
(p.1) Introduction
Source:
The Secret Financial Life of Food
Author(s):

Kara Newman

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231156714.003.0013

This book tells the story of the secret financial life of food—the history of how it all came to be, including where, how, and why our food is traded—a critical but nearly invisible connection between the farm and plate. In a roundtable discussion of market experts, commodities trader Jim Rogers offered this wisdom: “Buy breakfast.” He was referring to futures contracts sold on frozen orange juice and pork bellies, which he expected to appreciate in value during the coming year. The commodities market generally is divided into five sectors: metals, energy, livestock, softs, and grains. The livestock category includes cattle and hogs, while the grains sector, which includes corn, oats, soybeans, and wheat. The softs group refers to cocoa, coffee, orange juice, sugar, and also cotton and lumber. One common characteristic of these commodities is their fragility, and the same is true for those that are found on supermarket shelves.

Keywords:   financial life, food, Jim Rogers, futures contract, commodities market, livestock, softs, grains, commodities

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