b'Are Supply Chains on the Path to Correction? One Economist Says YesPurdue researchers look to the future of U.S. agricultural economics.Alex MartinOVER THE LASTtwo and a half years, the global economyGray, director of the Center for Food and Agricultural has been ravaged with surprises popping up. A global pan- Business at Purdue University, described todays market as a demic hit, causing supply chains to suffer without a full recoveryrollercoaster.yet. Russia invaded Ukraine, causing grain trade stress and strainI may be a little optimistic in the sense that I put COVID in across the globe, and further stress of the global agriculturethe front curve of the rollercoastermaybe were past that, supply chains. U.S. interest rates have skyrocketed, and rumorshe said at the American Seed Trade Associations Leadership say that while were facing high inflation right now, a recessionSummit. Unfortunately, we have a conflict in Ukraine thats could be on the horizon. created a second loop for us, and right in front of that roller-With the news swirling around us, its important to knowcoaster is inflationI think that is the No. 1 topic we need to whats happening in U.S. economics, and what to start prepar- be worried about or thinking more about. ing for in the futureespecially as sentiment across the U.S.When thinking of the economics going on in the world, continues to fall. The Purdue University/CME Group Ag Economythere are four main questions to ask when thinking about Barometer reading in June continued on a downward slide inflation:decreasing two points to a reading of 97. The Index of Future1. What is the nature of monetary policy?Expectations fell 5 points to a reading of 96. Researchers note2. How do inflation expectations affect wage negotiations?that this is the lowest level for the index since October 2016.3.How do consumer spending habits evolve relative to Is there reason to hope that issues causing economic stressinflation?could be correcting themselves? According to Purdues Allan4. How long will supply chain disruptions last?Gray, supply chains seem to be on the path to correction. 38/ SEEDWORLD.COMSEPTEMBER 2022'