4-7


Dominic Enston


The Rise of the Kremlin’s Ghost Ships As Putin’s ‘Special Military Operation’ passes its first anniversary, there does not appear to be any imminent hope to and end of hostilities.


8-9 Mark Soderberg


Might US wheat become an important global source in 2023? Well, maybe not a major source, but at least more important than it has been in recent years. US wheat exports have been on the decline for decades. USDA estimates for the 2022/23 marketing year show US exports at only 21 mmt, representing 10% of the global trade, down from over 26% just 12 years ago.


10-13 Howard Jenkins Tale of two halves Over the past three months sugar has seen some tumultuous times with prices reaching their highest levels since the middle of November 2016.


14-15 Alan Bush Will central banks continue to buy gold? Total 2022 central bank purchases of 1,136 tons of gold represented a 152% increase over 2021.


16-17 Erik Norland What’s behind the mysterious upward skew in Ag Options? An often-asked question in economics is: Are markets efficient? It’s a difficult question to answer with certainty because the answer depends, in part, on how one defines efficiency.


18-19 Eddie Tofpik Green, Green…Wash, Wash… Hush, Hush…! Greenwashing is now giving way to Green Hushing.


20-23 Marc Ostwald


From Stockholm to Helsinki Syndrome – a revisit In the Q1 2021 edition of The Ghost In The Machine, I wrote about how markets appeared to be shifting away from ‘Stockholm Syndrome’ - a psychological response wherein a captive begins to identify closely with his or her captors, as well as with their agenda and demands - in this case the central bank’s pledges on low rates for a protracted period.


24-25 Alberto Peixoto Sugar – Is it half full or half empty? We started 2023 in a better economic mood than we finished 2022, as many focus on what is to come, rather than the past.


26


ADMISI Youtube Playlist 27


ADMISI Events ADMISI Social Channels


28 Testimonials Become a contributor


29 The Ghost In The Machine Library


30 About ADMISI


3 | ADMISI - The Ghost In The Machine | Q1 Edition 2023


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32