Faith in the commodities markets took another big hit last week after regulators alleged that Iowa futures firm Peregrine (PEAR-ih-grin) Financial Group had falsified its bank records – to the tune of $200 million. This news comes after the markets were rocked by the bankruptcy of trading firm MF Global last fall. Many farmers and ranchers depend on those markets to help manage the risk of running a business that depends on Mother Nature. But when customer money starts vanishing, can you blame farmers and ranchers for being a little skittish? Jeremy Bernfeld (“BURN-fell-d”) has more in this report for Harvest Public Media.
For additional coverage on farmers’ concerns with the commodities market, visit HarvestPublicMedia.org.