If you are in the camp that believes bigger is not necessarily better, particularly when it comes to competition, you probably will not welcome the information published by the consulting firm Oliver Wyman. According to their paper, with gross revenues from commodity trading down 6% in 2016, we should expect to see more and more consolidation in the industry as cost-cutting and increasing efficiencies, ., eliminate redundancy and people through mergers and acquisition, will be sought after. Realistically this should not come as a shock as we have been watching the entire industry restructure since the commodity bubble burst around 2011 with some of the oldest and biggest names struggling to adapt to the new norms. This, of course, reaches far beyond grain or energy traders as we continue to see the consolidation in the chemical/seed/technology world as well. While this is a natural part of the cycle as we adjust to the famine to feast realities of commodities production/demand and forces everyone to become leaner and meaner, but ultimately it will leave us with less competition, which is not a good thing.
Primal posture: Ubong tribesmen in Borneo (right) display the perfect J-shaped spines. A woman in Burkina Faso (left) holds her baby so that his spine stays straight. The center image shows the S-shaped spine drawn in a modern anatomy book (Fig. I) and the J-shaped spine (Fig. II) drawn in the 1897 anatomy book Traite d'Anatomie Humaine . Courtesy of Esther Gokhale and Ian Mackenzie/Nomads of the Dawn hide caption