Tag: fear

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Coronavirus headlines disrupt commodities

Here’s the complete conversation with Arlan Suderman of INTL FCStone on the commodity markets reaction to the coronavirus outbreak.

Coronavirus headlines and the commodity markets. It’s been a while since we’ve seen the commodity markets this reactive to news headlines on an almost daily basis. While it’s not unheard of, one commodity expert says it’s been over a decade since the markets have been hit this hard by the news. Arlan Suderman is the Chief Commodities Analyst for INTL FCStone, talks about why the news coronavirus headlines seem to be playing havoc in the commodity markets.

“I think that’s a question a lot of people have these days,” Suderman says. “It’s a valid point to discuss.

Coronavirus
Arlan Suderman, Chief Commodities Analyst at INTL FCStone says the commodity markets have been hit hard by news reports surrounding the coronavirus, as well as the resulting “fear outbreak” from people all over the world.

“I was initially downplaying the market reaction in January,” he recalled, “before doing some research at the end of that month. This is the type of virus that’s going to trigger a lot of fear in people. When you have that much fear, the fear of the coronavirus headlines will be worse than the threat of the virus itself.”

He points out that when people get afraid, they stay home, they don’t travel, and they don’t go out in public as much. That’s been the case in China as everywhere the disease has hotspot outbreaks, everybody stays home.

“Shanghai, a city of millions of people, is now a ghost town,” Suderman said. “Now we’re seeing pictures of that in lots of other places, including Italy.

“When people stay home and don’t go out, they tend to consume less food,” he added. “That includes consuming less meat and a lot more starches. Overall, it does tend to change consumption patterns a lot.”

People also consume less energy in these situations as they aren’t driving a lot while airlines are also canceling flights as people don’t want to travel. Less consumption in the energy markets hurts the biofuels markets as well.

Even things like shipping commodities get much more complicated as people are staying home, thanks to the coronavirus headlines. That’s been the case in China and is becoming prevalent in other countries too.

“People didn’t show up to work,” he said. “Ports become congested, ships don’t get unloaded, and shipping slows way down. That’s lost demand you likely don’t get back. You may get some of it back, but not all.

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MDA Helping Professionals Help Farm Stress

Summer workshops will teach farm stress management skills

farmer stress
The Minnesota Department of Agriculture is offering a workshop for health professionals in oder to help them assist farmers through incredibly difficult times. Farmer stress is as high as it’s been in decades for a variety of reasons, many of which non-farm folks may not understand. (photo from mda.org)

Farmer stress levels are way, way up. They’re living with weather that won’t let a great many of them get crops in the ground. Overseas trade wars have cut down on places to sell their commodities, leading to a lot of grains and oilseeds on hand, driving prices even lower. Farmer stress is something that mental and even physical health professionals may not have the experience to help them with, so the Minnesota Department of Agriculture is trying to help with that.

Farmer stress is as high as it’s been since the 1980s. Stressful times in agriculture can trigger bad news and difficult conversations. In response, the Minnesota Department of Agriculture (MDA) is offering Navigating Conflict & Tough Conversations in Agriculture, a workshop designed to help agriculture professionals navigate potentially contentious situations.

It’s Rough in Rural America

“Farmers are having a tough time right now,” Agriculture Commissioner Thom Petersen said. “Farmer stress is high because there’s a lot on the line, and we recognize that lenders, agency staff, clergy, educators, veterinarians, agricultural advisors, and businesspeople can find themselves trying to help in situations where emotions run high.”

Workshop topics include reducing anxiety and fear about interpersonal conflict; understanding how self-awareness and group dynamics contribute to successful outcomes; exploring the connection between conflict and change; and precautions participants can take to keep themselves safe at work – both in and outside their office.

University of Minnesota Extension Educator Denise Stromme and local law enforcement will teach the workshop on dealing with farmer stress at six locations in June and July. All sessions run from 9 a.m. – 12 p.m. 

  • June 18, Detroit Lakes, Minnesota Community & Technical College
  • June 19, Thief River Falls, Northland Community & Technical College
  • June 20, Duluth, Lake Superior College
  • July 8, Marshall, Southwest Minnesota State University
  • July 9, Faribault, South Central College
  • July 10, St. Cloud, Saint Cloud Technical & Community College

The workshop is free but space is limited. Register at www.navigating-conflict-in-ag.eventbrite.com or by calling 651-201-6012.

Farmer Stress is Unique

Listen, I grew up working on a dairy farm and got to understand farmer mindsets. It’s no fun to admit you need help. If there’s a group of Americans who have “John Wayne” go-it-alone-syndrome more than farmers do, I’d like to know who that would be. They don’t want to ask for help. It’s important that health professionals get the background information they need at a workshop like this. The stresses that they deal with are very unique and it’s quite difficult for non-farm folks to relate to. I’ve seen it first hand, living in both rural and urban areas through my 48 years of living.

All participants will receive certificates of attendance; several organizations have approved continuing education credits.

Individuals with a disability who need a reasonable accommodation to participate in this event should contact Stephen Moser at 651-201-6012 or through the Minnesota Relay Service at 711 as soon as possible.

Disclaimer

This workshop is supported by the Minnesota Department of Agriculture and the National Institute of Food and Agriculture, U.S. Department of Agriculture, under award number 2018-38640-28416 through the North Central Region SARE program under project number ENC18-170. The MDA and USDA are equal opportunity employers and service providers. The opinions, findings, conclusions, or recommendations expressed in this workshop do not necessarily reflect the view of the U.S. Department of Agriculture.