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45. Robert Mullin: Commodities with Carry and Convexity

Mutiny Investing Podcast

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Is There a Lot of Misinformation About Fertilizer?

The groundwork for the fertiliser bull market was ongoing for a year before russian vated Ukraine. You started to see uh fertilizer markets tighten up post 2020 there was not a lot of incremental capacity put in. The more animal protein you put into your diet, the more grain that requires as opposed to just eating the grain itself to be able to feed you. There are other things that are coming in which are really accelerates this move towards reducing or banning synthetic fertilizers and i think it's all very well intentioned but utterly disastrous.

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