b'THERES A BEASTthat our economy is currently battling. THERES AThe battle started in 2022, but it doesnt look like this monster attempting to wreak havoc is ready to leave: inflation.BEAST IN THEInflation is currently at levels weve not seen in the U.S. or around the world in over 40 years, according to Dan Basse, president and economist at AgResource. ECONOMY RIGHTGone are the days of low interest rates, he said in his presentation at the American Seed Trade Associations CSS & Seed Expo 2022. Gone are the days well have employ-ees come knocking on our door. Cheap labour around NOW NAMEDChina and in the U.S. has left usso as we think about this reset, I want you to think about your investments. Think about the world ahead and how this fits into the INFLATION picture of dollars and where the world sits today.Think about what the world has faced within the last few years. In addition to a global health pandemic, supply chains have yet to recover. Drought and heat are becom-The outlook for 2023 might be a difficult one, ing more of an issue as temperatures rise. Russia invaded Ukraine in February 2022, causing issues within the global but seeds are in a good place.Alex Martin grain trade. Inflation has been a major issue, along with rising interest rates, high gas and diesel prices and threats of protest on the railways.Im here to say that we are not as bullish this year on corn and soybeans, Basse says. As we mourn the last couple of years, things have changed. The structure of this market is not the same as we had several years ago.What can we expect in 2023? Well, Basse doesnt believe the outlook is bullishinstead, were looking at a bearish outlook as we move from 2022 to 2023.The Numbers GameWhen it comes to numbers to watch for in forecasts glob-ally, Basse says there are a few for the seed industry to be aware of.If you think about corn prices, were going to average about US$6.80 a bushel from our modeling for next yearwere already talking about US$1 less or US$1.05 less, Basse says. If Mother Nature is normal, we can see prices stepping down, so its the same bullish points we had last year.In addition, Basse mentions in 2021, the conference 38GERMINATION.CAJANUARY 2023'