THE COMA TEST
The job of an agricultural analyst is to have an opinion on every topic and an answer for every question. And most of us prefer fundamentals—supply and demand. However, in 2022, macroeconomics and geopolitics held sway and muted some of the price movements that could have occurred if fundamentals dominated the market. Moreover, the variables needed for any model explaining potential price direction have expanded. To get my bearings at times like these, I resort to the Coma Test.