The case for crops

Agricultural commodities have occupied considerable acres of column space in recent months, largely in the context of food-price inflation and volatility, erratic weather patterns and growing social unrest in pockets of the developing world. From onions in India to cereals in Russia, supply constraints attributed to poor harvests have exacerbated and distorted prices of a number of staple crops since the beginning of the year. Beyond these short-term disruptions, however, we believe there is a strong investment case for exposure to the agricultural sector, founded upon the long- term,...