Climate change is being blamed for drought limited grain crops this year, but tree nuts are a better example. Weather has caused volatility in grain markets for ions. In Genesis, Joseph saves the Egyptians during a distressed crop year by releasing grain from the stores he maintained. Variable monsoons, La Niña/El Niño and other weather phenomenon predate the current climate change challenge when it comes to growing grain. However, the real threat from climate change is the highly concentrated tree nut supply. Most of the world’s major tree nuts are grown in California and exported from the U.S. China is the largest producer of walnuts, but the U.S. exports more of them and it produces and exports most of the world&rsqu...

TAGS – Softs, North America