For years now, I have found myself gravitating to content describing commodities markets.Though I regularly search out and collect sources sharing insights in how commodities markets are formed and morph.

I would by no means call myself an expert. I do, however, have a background in the study of markets, particularly the economics of health markets. 

Luckily there are loads of resources, podcasts and experts sharing material for non-experts interested to learn more about commodities. 

This is not for the reader with deep technical expertise in market forces and practical expertise in commodities trading. If you are not an economics expert and a markets enthusiast then this article is for you!

How I first got interested in commodities

My interest in commodities markets comes from a family history in business and farming.

I come from a family of farmers. I grew up in a rural, agrarian community in southern Illinois where farming and husbandry was the core economic driver. While I cannot describe myself as a farmer, I have and regularly continue to interact with news about commodities markets, primarily grains, livestock, land and natural resources. 

As a young boy, I attended cattle auctions and saw first hand what the buying and selling of commodities looks like.

As I matured and traveled I found myself still curious about discussions around commodities. When I was a Peace Corps Volunteer in Mozambique, some of my closest friends were Indian immigrants in Mozambique trading and shipping pigeon peas from the west in Malawi to the Indian consumer market.

Even today I find myself still drawn to any type of material that talks about the past and present of commodities markets. 

Introductory material I highly recommend about commodities markets

If you are interested in stories of the origins and current dynamics of commodities, I would recommend checking out these podcast and books:

Podcasts

• 50 Things That Made The Modern Economy — Tim Harford's BBC podcast, "50 Things That Made the Modern Economy," delves into the fascinating history of everyday objects, revealing how they and their markets transformed the way the world trades.

• The Economics of Everyday Things — Journalist Zachary Crockett's "The Economics of Everyday Things" podcast unveils the hidden economic forces shaping ordinary items, exploring the histories and market dynamics behind everyday purchases.

• Planet Money — NPR’s Planet Money uses engaging stories to explore the surprising historical and economic forces that influence the things we buy, sell, and trade every day, giving a behind-the-scenes look at commodity markets. The episode, The junkyard economist, dives into the supply and demand of our waste from the perspective of a modern-day “peddler.”

Books

• Junkyard Planet: Travels in the Billion-Dollar Trash Trade, by Adam Mittner — This book dives into the hidden world of global recycling, a vast $500 billion industry. Author Adam Minter, with his insider knowledge from a junkyard owner family, explores how discarded materials from the US are shipped worldwide. The book delves into the global scrap metal trade, explaining how international markets dictate the value of what we throw away and the complex economics behind processing our waste.

• Principles: Life and Work, by Ray Dalio — For those who already follow and love the content of Ray Dalio, founder of Bridgewater Associates, may know that he started his career as a commodities trader. In Principles, Dalio goes into how he cut his teeth in financial markets with a start in commodities trading. He talks about using machine learning to track trends in commodities prices. His educational video content is also very worth watching. Check out How the Economic Machine Works.

So my goal over the next five (5) is:

Over the next 5 years I want to understand more about how commodities markets affect the economics of innovation and general economic productivity of countries. 

For example, do countries that see more vibrant commodities import-export markets also see greater latitude for innovation? And how do countries that are generally neither strong competitors in global commodities markets set themselves apart in the global market to improve their global economic standing and opportunities for their residents? 

If you too are interested in this area, connect with me, leave a comment below or follow along in this educational journey!