Most inflation models run through oil. But the supply chain disruption now moving through coffee, sugar, and cotton is operating on a different clock and has not yet shown up in the broader inflation read.

The 2022 Red Sea closure rerouted global shipping and was never fully resolved. The Strait of Hormuz has added to the disruption. These two disruptions are now stacking in markets that most inflation models are not watching. What does that mean for where prices go next?

Commodity expert Judy Ganes has tracked soft markets for more than 40 years. She joins us to explain what the oil price is not showing and why the timing of the next move in these markets is not in line with the current narrative.

Views expressed in this video are the opinions of the host and guest and do not necessarily reflect the views of The Epoch Times.