WBEZ | commodities http://www.wbez.org/tags/commodities Latest from WBEZ Chicago Public Radio en The Secret Financial Life of Food http://www.wbez.org/series/chicago-amplified/secret-financial-life-food-107231 <p><p><strong>Kara Newman</strong> began her career as a financial writer. The inspiration for her new book,&nbsp;<em>The Secret Financial Life of Food,</em> began with two little words in the financial newsweekly Barron&rsquo;s.&nbsp;Jim Rogers, a noted commodities expert, gave the following advice: &ldquo;Buy breakfast.&rdquo; He was talking about pork belly futures (which no longer trade) and frozen orange juice futures. That one little comment snapped into focus the point that agricultural commodities aren&rsquo;t abstract financial concepts &ndash; at heart, they&rsquo;re about food. Pork bellies become the bacon on your plate; frozen orange juice becomes the OJ in your glass. In the end, it&rsquo;s all about food.</p><div>The ups and downs of the commodities market &ndash; in Chicago and elsewhere - influence what we eat and what we pay for food. &nbsp;Many farmers study commodities prices to decide what and how much to plant. Chain restaurants use them to manage costs &ndash; if the price of beef is expected to spike, does it make sense to raise menu prices, or find an ingredient substitution? Commodities prices set a baseline for prices at supermarkets and greenmarkets alike -- and most people don&#39;t even realize it.</div><div>&nbsp;</div><div>Kara Newman is a spirits and cocktail writer based in New York. She is the Spirits Editor for Wine Enthusiast and her work appears in <em>The New York Times</em>, <em>Saveur</em>, <em>The San Francisco Chronicle</em>, <em>Arrive</em>, and <em>Sommelier Journal</em>, among other publications. Previously, she was vice president of Strategic Research at Thomson Reuters.</div><div>&nbsp;</div><div><div class="image-insert-image "><img alt="" class="image-original_image" src="http://www.wbez.org/system/files/styles/original_image/llo/insert-images/CHC-webstory_43.jpg" style="float: left;" title="" /></div></div><p>&nbsp;</p><p>&nbsp;</p><p><br /><br />Recorded live Monday, April 22, 2013 at&nbsp;Kendall College.</p></p> Mon, 22 Apr 2013 10:31:00 -0500 http://www.wbez.org/series/chicago-amplified/secret-financial-life-food-107231