This book does a good job at explaining how the grain market works in USA from different market player perspective. She explains the role of merchandiser, elevator, ?farmer, processor, etc… This allow you to get a clear view of the logistic chain ? and their different interest. ?=> ?=> ?=> ?
The derivative trading side is well explained. This is the strong point of the book, we can see her past of futures broker. She explains??? simple concept such as “basis” and also tackles more advanced trading strategies,OTC, Straddle, etc… –
Side note, the way of writing is enjoyable. It makes it easy to read.
I do have two criticisms to make 1) it’s highly?? MERICA-centric. When you read it, this it feels like 95% of the rest of the world population does not exist. Usually it doesn’t bore me, especially for someone from South Dakota. But in that case, it’s quite odd as the impact of the world market is substantial on the grain one.
2) Too often, we have the unpleasant feeling that paragraphs have been written just to add pages at the book. We could easily cut ¼ of it. Some parts are too details, ( who seriously cares about outcries orders?) while others don’t add value. IMHO chapter 6 serves no purpose, but making the book heavier… –
Who is it for? If you are at the beginning of your journey in grain ?trading, this book if for you. You will learn a lot about how futures are used and by whom. For the more experienced player, there is better use of your time.
My garde : 3/6