The Global Resource world is changing dramatically with the entry of new players in the markets and significantly changing weather patters. In just six months we have seen the worst drought in over half a century that devastated the crop in the US corn producing farm belt sending ripples through agricultural markets. This was promptly followed by ‘Superstorm’ Sandy – the worst hurricane on record. Also, unusually intense typhoons in China (three consecutive in the span of one week) damaged approximately 3.5 million hectares of farmland in major corn, rice and wheat producing areas while floods created worries about lower grains supply from Australia and Argentina.
Australia is currently experiencing its highest temperatures since record keeping began and the country is being devastated by epic fires destroying homes, farms and infrastructure at an unparalleled rate.