Man-made disasters are the worst. And what just happened in Sri Lanka is an eye-opener and offers warnings about food production for the rest of the world—and perhaps most especially for my country of India.

“I feel like every day is one day closer to having the President declare a climate emergency,” says Newlin. “Once that happens, I don’t know what it will mean for ag, or what it’s going to open up the door to.”

The Commerce Department put out its second quarter GDP data this week, showing the U.S. economy shrank from April through June.

From 2001 to 2016, the U.S. lost or compromised 2,000 acres of farmland and ranchland every day. If that trend continues, and another 18.4 million acres is converted between 2016 and 2040.

November futures soared $1.52 3/4 for the week, or 11.7%, the largest weekly percentage gain since August 1999.

The weather wasn’t the only catalyst that sparked a soybean rally this week. Naomi Blohm and Matt Bennett discuss why the markets were extremely sensitive to the hot and dry August forecasts and potential market risks.