It dramatically increases the risks involved with managing a farm in Canada, because input costs hinge on grain prices. A farmer may see a highly volatile market with very swift peak periods as a great opportunity to make a profit. But, as they say, what goes up must come down. When grain prices come down, as they did in 2009, farmers end up paying input costs that are too expensive in relation to grain prices. So the economic impact is significant. Farmers can no longer be satisfied to run their operation; they also have to engage in speculation. And that increases the risks.
On the Chicago stock market, back in 2008, at the height of the financial crisis, grains were traded back and forth between the producer and the user 60 times. So that means 60 back and forth possession acquisitions between the producer and the user. That means greater risk for farmers not speculators because that is their business. If I am a farmer, more and more, I have to play the role of speculator.