Podcasts about Rabobank

Fresh from their rather somber state-of-the-industry presentation, SipSource analysts Danny Brager and Dale Stratton help identify whether there are any areas of growth and promise in the wine and spirits business. Topics include:  The performance of wine and spirits depletions in 2025 and the outlook for 2026. The surprising resilience of RTD growth rates. Prosecco's continuing strong performance. The wine industry trying more innovative marketing strategies. The importance of finding the right packaging formats. If consumers actually want low-alcohol products or if they want low-calorie and low-sugar products.    Have a question, qualm, or story to tell? Reach out via email: Bourcard.Nesin@rabobank.com Sign up to access our written research: RaboResearch sign-up   Note: The content and opinions presented within this podcast are not intended as investment advice, and the opinions rendered are that of the individuals and not Rabobank or its affiliates and should not be considered a solicitation or offer to sell or provide services. Disclaimer: Please refer to our global RaboResearch disclaimer at https://www.rabobank.com/knowledge/disclaimer/011417027/disclaimer for information about the scope and limitations of the material published on the podcast. 

Oliver Winery is one of the largest wine businesses in the United States. It is located in Indiana. In this episode, CEO Pat Brown shares how the unusual origins of the business have helped the company capture consumers who would otherwise be overlooked by the wine business, as well as the advantages of operating a winery outside the West Coast.    Have a question, qualm or story to tell, reach out via email: Bourcard.Nesin@rabobank.com Sign up to access our written research: RaboResearch sign-up   Note: The content and opinions presented within this podcast are not intended as investment advice, and the opinions rendered are that of the individuals and not Rabobank or its affiliates and should not be considered a solicitation or offer to sell or provide services. Disclaimer: Please refer to our global RaboResearch disclaimer at https://www.rabobank.com/knowledge/disclaimer/011417027/disclaimer for information about the scope and limitations of the material published on the podcast. 

Danny Wirtz, Co-Chairman of Breakthru Beverage Group, discusses how brands are rethinking national agreements and what success looks like when performance, not footprint, are the primary concern for suppliers' route-to-market strategy. Themes from the episode: How did Breakthru shift strategy after a planned merger with Republic National Distributing Company was terminated in 2019? What does geographic expansion look like in the current market? What is driving decisions about footprint? Are suppliers deprioritizing a national footprint? Are there still benefits from those national partnerships? How is the push from beer wholesalers and Reyes Beverage Group changing the strategies of wine and spirits wholesalers?  What are Danny's thoughts, as CEO of the Chicago Blackhawks, about the boost his sport has received from the international phenomenon Heated Rivalry?     Have a question, qualm or story to tell, reach out via email: Bourcard.Nesin@rabobank.com Sign up to access our written research: RaboResearch sign-up   Note: The content and opinions presented within this podcast are not intended as investment advice, and the opinions rendered are that of the individuals and not Rabobank or its affiliates and should not be considered a solicitation or offer to sell or provide services. Disclaimer: Please refer to our global RaboResearch disclaimer at https://www.rabobank.com/knowledge/disclaimer/011417027/disclaimer for information about the scope and limitations of the material published on the podcast.   

In deze aflevering van de Leaders in Finance Compliance Podcast gaat het over een vraag die in bijna iedere financiele organisatie speelt: hoe vernieuw je met technologie zonder grip te verliezen op risico's?Met Patrick de Neef, Global Head Technology & Innovation Risk bij Rabobank en voormalig Chief Innovation Officer bij DNB, bespreken we wie bepaalt wat verantwoord is, wie het tempo bepaalt, en hoe je zorgt dat dit soort keuzes op het juiste niveau worden genomen. Ook de rol van risk en compliance staat centraal: niet als rem, maar als functie die helpt om verantwoord vooruit te bewegen.Daarnaast bespreken we vragen rond operational resilience. Wat betekent weerbaarheid in de praktijk? Hoe houd je de balans tussen efficientie en controle enerzijds, en robuustheid en onafhankelijkheid anderzijds, in een wereld van geopolitieke spanningen en digitale afhankelijkheid?Ook Patricks overstap van toezichthouder naar bank staat centraal. Hoe anders is de praktijk echt? Waar zit de bureaucratie? En wat vraagt deze tijd van risk en compliance professionals, behalve het signaleren van risico's? —> Volg de Leaders in Finance Compliance Podcast via Linkedin.—> De Leaders in Finance Compliance Podcast wordt mede mogelijk gemaakt door Cense, Deloitte, Rabobank, en Osborne Clarke.

Jamie Mackay talks to Damien O'Connor, Jane Smith, Emma Higgins, Shane Jones, and Miles Hurrell.See omnystudio.com/listener for privacy information.

Global strategist Michael Every joins us to discuss escalating Middle East tensions, the risk of a wider geopolitical conflict, and how global power dynamics between the U.S., China, Europe, and emerging alliances are reshaping the world order.From Iran tensions to resource security and economic realignment, this conversation looks at the bigger forces driving markets and politics today.#Geopolitics #Markets #Gold------------

We caught up with Francis Creighton, President and CEO of the Wine & Spirits Wholesalers of America, on the floor at this year's Access Live conference in Las Vegas. In addition to helping its members navigate a very difficult business environment, the lobbying group representing US wine and spirits wholesalers in the US has a full advocacy agenda. Francis quickly brings us up to date on its legislative priorities and how wholesalers are dealing with the tough times.  Have a question, qualm or story to tell, reach out via email: Bourcard.Nesin@rabobank.com Sign up to access our written research: RaboResearch sign-up   Note: The content and opinions presented within this podcast are not intended as investment advice, and the opinions rendered are that of the individuals and not Rabobank or its affiliates and should not be considered a solicitation or offer to sell or provide services. Disclaimer: Please refer to our global RaboResearch disclaimer at https://www.rabobank.com/knowledge/disclaimer/011417027/disclaimer for information about the scope and limitations of the material published on the podcast.     

Todd Charteris is the Chief Executive Officer of Rabobank New Zealand. Since taking the helm in 2018, he has led a team of more than 540 colleagues across 27 offices, with responsibility for the bank's lending to New Zealand's food and agri sector as well as its online retail savings business. A real Rabonist, Todd's story with the bank started more than 25 years ago in Te Puke, where he began as a rural officer. From there, he went on to hold a range of senior leadership roles across the group in both New Zealand and Australia. Before becoming CEO, he served as National Manager for Country Banking in Australia, overseeing Rabobank's specialist agricultural lending operations across the Tasman. Todd grew up on a sheep and beef farm in Otago and holds a Bachelor of Commerce from the University of Otago. He now lives in Hamilton, and he and his wife Lisa have raised three children. *** Leaders in Finance is made possible by the support of EY, Mogelijk Vastgoedfinancieringen, and Lepaya. More information about our partners is available at our partner page. *** Want to stay up to date with Leaders in Finance? Subscribe to the newsletter. *** Questions, suggestions, or feedback? We'd love to hear from you! You can reach us via email at info@leadersinfinance.nl and check out our website. *** Previous guests on the Leaders in Finance podcast include:  Klaas Knot (President DNB), Frank Elderson (Executive Board, ECB), Roland Boekhout (CEO ASN Bank), Gerrit Zalm (former Minister of Finance and former CEO of ABN AMRO),  Ingrid de Swart (member of the Executive Board, a.s.r.), Pinar Abay (Management Board ING, Head of Retail Banking), Robert Swaak (CEO ABN AMRO), Marcel Zuidam (CEO NN Bank), Saul van Beurden (CEO Consumer, Small & Business Banking, Wells Fargo), David Knibbe (CEO NN Group), Janine Vos (Executive Board, Rabobank), Nadine Klokke (CEO Knab), Maarten Edixhoven (CEO Van Lanschot Kempen), Jeroen Rijpkema (CEO Triodos Bank), Nout Wellink (former President DNB), Onno Ruding (former minister of finance), Yoram Schwarz (CEO Movir), Laura van Geest (Executive Board, AFM),  Katja Kok (CEO Van Lanschot CH), Ali Niknam (CEO bunq), Nick Bortot (CEO BUX), Petri Hofsté (supervisory board member, including at Rabobank and Achmea), Peter Paul de Vries (CEO Value8), Barbara Baarsma (CEO Rabo Carbon Bank), Jan van Rutte (C supervisory board member, including at Rabobank and Achmea), Marguerite Soeteman-Reijne (Chair Aon Holdings), Lidwin van Velden (CEO Nederlandse Waterschapsbank), Jan-Willem van der Schoot (CEO Mastercard NL), Joanne Kellermann (Chair PFZW), Steven Maijoor (former Chair ESMA), Radboud Vlaar (CEO Finch Capital), Jos Baeten (CEO a.s.r.), Karin van Baardwijk (CEO Robeco), Annette Mosman (CEO APG). 

Aankomend weekend is er koers op vier fronten: UAE Tour, Ruta del Sol, Volta ao Algarve (waar collega Nick aanwezig is) en ook de Classic du Var en Tour Alpes-Maritimes. Het is de opmaat naar Omloop Het Nieuwsblad en Kuurne-Brussel-Kuurne volgende week, maar de aanlooproute is voor veel factoren in de wielersport niet vlekkeloos. Je hoort het in de WielerFlits Podcast!Opnieuw kwam er afgelopen week tegenslag naar buiten voor Visma | Lease a Bike. Het team moet op zoek naar een nieuwe, eerste naamgevende sponsor. Het Noorse software bedrijf Visma kan namelijk niet mee in de wens van Richard Plugge om zijn budget (fors) te vergroten. Collega Raymond bracht dat nieuws naar buiten en duidt de zoektocht in gesprek met hoofdredacteur Maxim en verslaggever Youri. De gedachte dat de terugkeer van Rabobank vorige zomer een opstap is naar het hoofdsponsorschap, is geen sinecure. Moeten de fans zich zorgen maken?Ook maken we een eerste, voorzichtige balans op van de eerste vier à vijf weken koers van 2026. Zwitsers kampioen Mauro Schmid is tot dusver dé man van het vroege voorjaar. De renner van Jayco AlUla was in Australië en Oman enorm op dreef met meerdere zege en benadert nu al zijn beste seizoen uit zijn carrière ooit. Op de Current Overall Ranking van Cyclingflash (dat laat zien hoe goed een renner in vorm is) steeg Schmid de laatste maand liefst 152 plekken. Hij is niet de enige renner die onze mannen is opgevallen. Luister snel welke renners nog meer indruk maakten.Ook blikken we voorzichtig vooruit op de eerste wedstrijden van het klassieke voorjaar. Tiesj Benoot mist door een hernia alle koersen en er zijn meer vraagtekens. Hoe verloopt het herstel van Mads Pedersen? Weten we al of Mathieu van der Poel start in Omloop Het Nieuwsblad? En welke parcoursen zijn veranderd? Kleine spoiler: kijk vooral uit naar de Ename Samyn Classic, de dinsdag ná het Openingsweekend. En verwelkomen we Johannes Klæbo na de Winterspelen van Milaan misschien wel in het peloton? Die kans bestaat! Je hoort het in de WielerFlits Podcast!

Rabobank’s Senior Ag Analyst comments on another great GDT Auction overnight (up 3.6%) and whether red meat prices are sustainable at their current record highs.See omnystudio.com/listener for privacy information.

This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comGood Sunday to you,In case you missed them, I put out two articles this week. Here they are.By now I am sure you will have stumbled across Matt Shumer's essay Something Big Is Happening, which has gone bananas viral. Eighty-one million views on X alone. That's even more than We're All Far Right Now.Shumer describes how AI capability is improving exponentially, meaning that most screen-based jobs face imminent and major disruption. By that he means all but disappearing. His advice is blunt: get good at using AI now; assume much of what you do will be automated, and thus your doing it will soon be redundant; and start saving up, there's economic upheaval coming.It's perhaps the best articulated essay there is describing this bleak view of what is coming.From my own little vantage point, I'm not nearly so pessimistic. I use AI a lot, and I use it more and more. Its rapid improvement over the last six months has been obvious, though it still cannot recognise humour, let alone write it - humour that's actually funny, anyway. So it's rather like the BBC comedy department in that regard.EDIT: Having written that last paragraph, I just watched this. It is a perfect Frat Pack joke. I've now watched a load of other clips made with AI movie generator Seed Dance 2.0 from Byte Dance (parent company of TikTok), and I've a mind to short Disney first thing on Monday morning. The content is breathtaking, even the comedy.I use AI as a sounding board, for legal and regulatory questions, bureaucratic procedures, personal advice, career and business advice, videos, images. I use it to proof read copy, in the case of PR which I hate writing, I use it to actually generate copy; it helps me with titles, SEO summaries and research. I am not at the point where it writes my articles for me, and I like to think I would not let that happen, but I know others are: I am increasingly reading pieces in respectable broadsheets that are clearly written by bots.That represents a lot of work I might once have given to other people.On the other hand, if I had needed to pay someone proper money to do it, I probably would not have done it at all. In that sense it is not so different from the democratisation of media that followed the turn of the 21st century, when filmmaking, podcasting and publishing suddenly became accessible to anyone with a laptop.From a personal point of view I know I have lost a shedload of voiceover work to AI, and what used to be my main source of income no longer is. More annoying, my voice, with the countless documentaries, promos, trailers and ads I've voiced over the years, has been harvested, modelled and copied like mad. Not a lot I can do. But the net result to the world is more content, better content, produced faster and at lower cost.I'm not sure quite how end-of-days it all is. But Shumer's finger is on the pulse in a way mine is not.Let's assume he is more right than I am. What then?Two things follow.First, AI is deflationary. Services get cheaper. Productivity rises. Labour loses bargaining power.Second, governments will not sit back and watch demand collapse. If employment and incomes come under pressure, the political response will be fiscal support, especially if it win s elections. This means more borrowing, therefore lower interest rates, and more money-printing. Different routes, same destination: easy money.That is essentially the conclusion reached by analyst Lyn Alden in her latest newsletter, though her reasoning is more technical. The Federal Reserve has already moved from balance sheet reduction back to ongoing expansion. Not a dramatic “QE moment”, but a structural, steady increase to keep the financial plumbing functioning. She calls it the “gradual print”.Jefferies' Chris Woods, whose Greed & Fear letter I have come to rather like, arrives at a similar place via politics. The US government is now so sensitive to interest costs that sustained tight policy is unrealistic. If markets wobble or growth weakens, intervention returns. Monetary restraint will not survive contact with fiscal reality.Hedge fund billionaire, Ray Dalio's argument, laid out in his latest offering, is similar, though simpler and colder. The United States is late in a long-term debt cycle, with borrowing rising faster than income. There are three ways out: austerity, default or money printing. The US will choose the third. If foreign buyers will not fund the deficits at acceptable rates, the central bank ultimately does. Different language, same conclusion.Which brings me to an interview I listened to this week, between Grant Williams and Rabobank's Michael Every. Every thinks stable coins will act as the funding vehicle. Every's argument is more macro than AI or the Fed. He believes we are seeing a structural shift in the global economic system, comparable to the late Soviet period. With Communism in its final throes, Gorbachev tried to transform the USSR from a military-industrial economy into a consumer one. It failed and the system collapsed.The United States, Every argues, is now attempting the reverse. After decades of financialisation and consumption, it is trying to rebuild industrial and military capacity. That means: industrial policy, trade protection, supply-chain control and capital directed toward production, rather than asset inflation. Instead of buying US treasuries, foreign dollars get recycled into US manufacturing, industry and, yes, its military.This is not the liberal globalisation model of the last thirty years. It is economic statecraft. This means growth may be slower and inflation structurally higher, while financial markets less dominant relative to the real economy.Success is by no means guaranteed, but the direction of travel is toward a more managed, more political, less free market economic system.So … large forces are converging. Different stories, maybe, but the destination is be rather similar.* AI will improve productivity, but lower labour power* Governments will be forced towards fiscal support* No longer independent, central banks will drift towards balance sheet expansion* Geopolitics will drive reindustrialisation and energy demandWhich brings us to the question that matters.What are the implications for your money?Where do you put it?

This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comGood Sunday to you,In case you missed them, I put out two articles this week. Here they are.By now I am sure you will have stumbled across Matt Shumer's essay Something Big Is Happening, which has gone bananas viral. Eighty-one million views on X alone. That's even more than We're All Far Right Now.Shumer describes how AI capability is improving exponentially, meaning that most screen-based jobs face imminent and major disruption. By that he means all but disappearing. His advice is blunt: get good at using AI now; assume much of what you do will be automated, and thus your doing it will soon be redundant; and start saving up, there's economic upheaval coming.It's perhaps the best articulated essay there is describing this bleak view of what is coming.From my own little vantage point, I'm not nearly so pessimistic. I use AI a lot, and I use it more and more. Its rapid improvement over the last six months has been obvious, though it still cannot recognise humour, let alone write it - humour that's actually funny, anyway. So it's rather like the BBC comedy department in that regard.EDIT: Having written that last paragraph, I just watched this. It is a perfect Frat Pack joke. I've now watched a load of other clips made with AI movie generator Seed Dance 2.0 from Byte Dance (parent company of TikTok), and I've a mind to short Disney first thing on Monday morning. The content is breathtaking, even the comedy.I use AI as a sounding board, for legal and regulatory questions, bureaucratic procedures, personal advice, career and business advice, videos, images. I use it to proof read copy, in the case of PR which I hate writing, I use it to actually generate copy; it helps me with titles, SEO summaries and research. I am not at the point where it writes my articles for me, and I like to think I would not let that happen, but I know others are: I am increasingly reading pieces in respectable broadsheets that are clearly written by bots.That represents a lot of work I might once have given to other people.On the other hand, if I had needed to pay someone proper money to do it, I probably would not have done it at all. In that sense it is not so different from the democratisation of media that followed the turn of the 21st century, when filmmaking, podcasting and publishing suddenly became accessible to anyone with a laptop.From a personal point of view I know I have lost a shedload of voiceover work to AI, and what used to be my main source of income no longer is. More annoying, my voice, with the countless documentaries, promos, trailers and ads I've voiced over the years, has been harvested, modelled and copied like mad. Not a lot I can do. But the net result to the world is more content, better content, produced faster and at lower cost.I'm not sure quite how end-of-days it all is. But Shumer's finger is on the pulse in a way mine is not.Let's assume he is more right than I am. What then?Two things follow.First, AI is deflationary. Services get cheaper. Productivity rises. Labour loses bargaining power.Second, governments will not sit back and watch demand collapse. If employment and incomes come under pressure, the political response will be fiscal support, especially if it win s elections. This means more borrowing, therefore lower interest rates, and more money-printing. Different routes, same destination: easy money.That is essentially the conclusion reached by analyst Lyn Alden in her latest newsletter, though her reasoning is more technical. The Federal Reserve has already moved from balance sheet reduction back to ongoing expansion. Not a dramatic “QE moment”, but a structural, steady increase to keep the financial plumbing functioning. She calls it the “gradual print”.Jefferies' Chris Woods, whose Greed & Fear letter I have come to rather like, arrives at a similar place via politics. The US government is now so sensitive to interest costs that sustained tight policy is unrealistic. If markets wobble or growth weakens, intervention returns. Monetary restraint will not survive contact with fiscal reality.Hedge fund billionaire, Ray Dalio's argument, laid out in his latest offering, is similar, though simpler and colder. The United States is late in a long-term debt cycle, with borrowing rising faster than income. There are three ways out: austerity, default or money printing. The US will choose the third. If foreign buyers will not fund the deficits at acceptable rates, the central bank ultimately does. Different language, same conclusion.Which brings me to an interview I listened to this week, between Grant Williams and Rabobank's Michael Every. Every thinks stable coins will act as the funding vehicle. Every's argument is more macro than AI or the Fed. He believes we are seeing a structural shift in the global economic system, comparable to the late Soviet period. With Communism in its final throes, Gorbachev tried to transform the USSR from a military-industrial economy into a consumer one. It failed and the system collapsed.The United States, Every argues, is now attempting the reverse. After decades of financialisation and consumption, it is trying to rebuild industrial and military capacity. That means: industrial policy, trade protection, supply-chain control and capital directed toward production, rather than asset inflation. Instead of buying US treasuries, foreign dollars get recycled into US manufacturing, industry and, yes, its military.This is not the liberal globalisation model of the last thirty years. It is economic statecraft. This means growth may be slower and inflation structurally higher, while financial markets less dominant relative to the real economy.Success is by no means guaranteed, but the direction of travel is toward a more managed, more political, less free market economic system.So … large forces are converging. Different stories, maybe, but the destination is be rather similar.* AI will improve productivity, but lower labour power* Governments will be forced towards fiscal support* No longer independent, central banks will drift towards balance sheet expansion* Geopolitics will drive reindustrialisation and energy demandWhich brings us to the question that matters.What are the implications for your money?Where do you put it?

Rabobank’s general manager of country banking on rural interest rates, succession workshops, and positivity in the primary sector.See omnystudio.com/listener for privacy information.

Jamie Mackay talks to Mark Warren, Mike Casey, Nathan Guy, Chris Hipkins, Winston Peters, and Christopher Luxon.See omnystudio.com/listener for privacy information.

Today's guest predicted -- years in advance -- the shift away from globalization towards nationalism by the world's major countries.With nationalist leaders rising to power over recent years, and the US officially declaring at Davos last month that "globalization has failed", what does he see coming next?To find out, let's ask the man himself.We're very fortunate to sit down again today with Michael Every, global strategist at Rabobank.WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.comFollow Michael at https://www.rabobank.com/knowledgeOr on X at @TheMichaelEvery#mercantilism #globalization #geopolitics _____________________________________________ Thoughtful Money LLC is a Registered Investment Advisor Promoter.We produce educational content geared for the individual investor. It's important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such.We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer's unique goals, needs & risk tolerance.IMPORTANT NOTE: There are risks associated with investing in securities.Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods.A security's or a firm's past investment performance is not a guarantee or predictor of future investment performance.Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC.Copyright © 2026 Thoughtful Money LLC. All rights reserved.

Rabobank’s chief executive is pleased with the turnout for the National Lamb Day barbecue.See omnystudio.com/listener for privacy information.

The team from Beer Business Daily and Beernet Radio offer candid coverage of the tumult and upheaval in the US beer wholesaler business.  In this episode, we touch on the following topics:  How are big brands (AB InBev, Molson Coors, Constellation Brands) applying pressure differently to their wholesaler networks? What is the outlook for hemp beverages (né marijuana edibles)? Will they be legal in 2027, and are they actual profit drivers for wholesalers?  Will wholesalers continue to diversify away from beer? Should this concern the biggest brands in their portfolio? Are wholesalers seeing a clear impact from the Trump administration's immigration crackdown? Should beer wholesalers move more aggressively into wine and spirits? Should those businesses be run separately from their beer business?    Have a question, qualm, or story to tell, reach out via email: Bourcard.Nesin@Rabobank.com Sign up to access our written research: RaboResearch sign-up   Note: The content and opinions presented within this podcast are not intended as investment advice, and the opinions rendered are that of the individuals and not Rabobank or its affiliates and should not be considered a solicitation or offer to sell or provide services.   Disclaimer: Please refer to our global RaboResearch disclaimer at https://www.rabobank.com/knowledge/disclaimer/011417027/disclaimer for information about the scope and limitations of the material published on the podcast. 

Voor veel reizigers betekent reizen met de trein reizen met de NS, maar voor Anne Hettinga is het veel meer. Twintig jaar zette hij zich in voor regionaal openbaar vervoer als algemeen directeur van Arriva Nederland, en nu is het tijd voor een nieuwe functie als CEO van Arriva Europa. Kun je als regionale speler een échte concurrent van de NS worden, en hoe neem je die jaren aan ervaring mee naar een nieuwe functie in Europa? Anne Hettinga, CEO Arriva Europa en voormalig CEO Arriva Nederland is te gast in BNR Zakendoen. Macro met Mujagić Elke dag een intrigerende gedachtewisseling over de stand van de macro-economie. Op maandag en vrijdag gaat presentator Thomas van Zijl in gesprek met econoom Arnoud Boot, de rest van de week praat Van Zijl met econoom Edin Mujagić. Ook altijd terug te vinden als je een aflevering gemist hebt. Blik op de wereld Wat speelt zich vandaag af op het wereldtoneel? Het laatste nieuws uit bijvoorbeeld Oekraïne, het Midden-Oosten, de Verenigde Staten of Brussel hoor je iedere werkdag om 12.10 van onze vaste experts en eigen redacteuren en verslaggevers. Ook los te vinden als podcast. Beleggerspanel Het cijferseizoen is in volle gang. Waar de grote techbedrijven de geldkraan openzetten, draait autobouwer Stellantis hem juist dicht. En: de onzekerheid rondom softwareaandelen bereikte afgelopen week een hoogtepunt. Dat en meer bespreken we in het economenpanel met: Mary Pieterse-Bloem, hoofd beleggingen bij Rabobank. En Karel Mercx, beleggingsspecialist bij Beleggers Belangen. Luister | Beleggerspanel l Zakenlunch Elke dag, tijdens de lunch, geniet je mee van het laatste zakelijke nieuws, actuele informatie over de financiële markten en ander economische actualiteiten. Op een ontspannen manier word je als luisteraar bijgepraat over alles wat er speelt in de wereld van het bedrijfsleven en de beurs. En altijd terug te vinden als podcast, mocht je de lunch gemist hebben. Contact & Abonneren BNR Zakendoen zendt elke werkdag live uit van 11:00 tot 13:30 uur. Je kunt de redactie bereiken via e-mail. Abonneren op de podcast van BNR Zakendoen kan via bnr.nl/zakendoen, of via Apple Podcast en Spotify. See omnystudio.com/listener for privacy information.

In this episode of The Grant Williams Podcast, I'm joined by Rabobank's Michael Every for a provocative exploration of why the post-Cold War liberal world order is breaking down — and what may replace it. Michael argues that decades of hyper-market economics hollowed out America's industrial and military base, and that Trump's project represents a radical attempt to reverse that trajectory by fusing national security and economic policy. Drawing on deep historical parallels with the collapse of the Soviet Union, he sets out his ‘reverse Gorbachev' thesis: an effort to impose a form of capitalism with a national-security face, subordinating markets to strategic necessity, elevating the Treasury over the Federal Reserve, and accepting higher inflation, heavier state intervention, and intensified political conflict at home and abroad in order to rebuild power and resilience. Every episode of the Grant Williams podcast, including This Week In Doom, The End Game, The Super Terrific Happy Hour, The Narrative Game, Kaos Theory, Shifts Happen and The Hundred Year Pivot, is available to Copper and Silver Tier subscribers at my website www.Grant-Williams.com.  Copper Tier subscribers get access to all podcasts, while members of the Silver Tier get both the podcasts and my monthly newsletter, Things That Make You Go Hmmm… 

In this extra episode, Jeroen Broekema sits down with Antoine Le Nel, Chief Marketing Officer at Revolut. Revolut has grown from a travel FX product into a full-scale financial platform, and Antoine gives a behind-the-scenes look at what that growth actually takes: how you keep speed when you're 13,000 people, how teams work in small “swim lanes” with real ownership, and why Revolut can launch new products and new markets at the same time.   *** Leaders in Finance is made possible by the support of EY, Mogelijk Vastgoedfinancieringen, and Lepaya. More information about our partners is available at our partner page.    ***  Want to stay up to date with Leaders in Finance? Subscribe to the newsletter.   ***  Questions, suggestions, or feedback? We'd love to hear from you! You can reach us via email at info@leadersinfinance.nl and check out our website.   *** Previous guests at the Leaders in Finance Podcast include: Klaas Knot (President DNB), Robert Swaak (CEO ABN AMRO), Frank Elderson (directie ECB), David Knibbe (CEO NN), Janine Vos (RvB Rabobank), Jos Baeten (CEO ASR), Nadine Klokke (CEO Knab), Gita Salden (CEO BNG Bank),  Annerie Vreugdenhil (CIO ING), Karien van Gennip (CEO VGZ), Maarten Edixhoven (CEO Van Lanschot Kempen), Jeroen Rijpkema (CEO Triodos), Chantal Vergouw (CEO Interpolis), Geert Lippens (CEO BNP Paribas NL), Simone Huis in 't Veld (CEO Euronext), Nout Wellink (ex DNB), Onno Ruding (ex minister van financiën), Maurice Oostendorp en Martijn Gribnau (CEOs Volksbank), Yoram Schwarz (CEO Movir), Laura van Geest (Bestuursvoorzitter AFM) Katja Kok (CEO Van Lanschot CH), Ali Niknam (CEO bunq), Nick Bortot (CEO BUX), Petri Hofsté (Commissaris, o.a.  Rabobank en Achmea), Peter Paul de Vries (CEO Value8), Barbara Baarsma (CEO Rabo Carbon Bank), Jan van Rutte (Commissaris PGGM,  BNG Bank, vml CFO ABN AMRO), Marguerite Soeteman-Reijnen (Chair Aon Holdings), Annemarie Jorritsma (o.a. Voorzitter NVP), Lidwin van Velden (CEO Waterschapsbank), Don Ginsel (CEO Holland Fintech), Jan-Willem van der Schoot (CEO Mastercard NL), Tjeerd Bosklopper (CEO NN NL), Joanne Kellermann (Chair PFZW), Steven Maijoor (Chair ESMA), Radboud Vlaar (CEO Finch Capital), Karin van Baardwijk (CEO Robeco) en Annette Mosman (CEO APG).  

Jamie Mackay talks to Sir Ian Taylor, Hunter McGregor, Paul Joules, Jane Smith, and Shane Jones.See omnystudio.com/listener for privacy information.

In this extra episode, Jeroen Broekema speaks with Duco van Lanschot, founder of Duna, right after the company shared its latest news: Duna has raised a $30M Series A, with continued backing from existing investors. So what is Duna building, exactly? Duco explains the “trust infrastructure” behind business onboarding: KYC, CDD and AML checks for companies, handled end to end, so banks, fintechs and platforms can onboard business customers faster, with less friction and stronger compliance. Duco shares why identity remains one of the internet's biggest unresolved challenges, what it takes to earn the trust of large, regulated clients, and why Duna is investing most of this new funding in product and R&D.   *** Leaders in Finance is made possible by the support of EY, Mogelijk Vastgoedfinancieringen, and Lepaya More information about our partners is available at our partner page.    ***  Want to stay up to date with Leaders in Finance? Subscribe to the newsletter.   ***  Questions, suggestions, or feedback? We'd love to hear from you! You can reach us via email at info@leadersinfinance.nl and check out our website.   *** Eerdere gasten bij de Leaders in Finance podcast waren onder andere: Klaas Knot (President DNB), Robert Swaak (CEO ABN AMRO), Frank Elderson (directie ECB), David Knibbe (CEO NN), Janine Vos (RvB Rabobank), Jos Baeten (CEO ASR), Nadine Klokke (CEO Knab), Gita Salden (CEO BNG Bank),  Annerie Vreugdenhil (CIO ING), Karien van Gennip (CEO VGZ), Maarten Edixhoven (CEO Van Lanschot Kempen), Jeroen Rijpkema (CEO Triodos), Chantal Vergouw (CEO Interpolis), Geert Lippens (CEO BNP Paribas NL), Simone Huis in 't Veld (CEO Euronext), Nout Wellink (ex DNB), Onno Ruding (ex minister van financiën), Maurice Oostendorp en Martijn Gribnau (CEOs Volksbank), Yoram Schwarz (CEO Movir), Laura van Geest (Bestuursvoorzitter AFM) Katja Kok (CEO Van Lanschot CH), Ali Niknam (CEO bunq), Nick Bortot (CEO BUX), Petri Hofsté (Commissaris, o.a.  Rabobank en Achmea), Peter Paul de Vries (CEO Value8), Barbara Baarsma (CEO Rabo Carbon Bank), Jan van Rutte (Commissaris PGGM,  BNG Bank, vml CFO ABN AMRO), Marguerite Soeteman-Reijnen (Chair Aon Holdings), Annemarie Jorritsma (o.a. Voorzitter NVP), Lidwin van Velden (CEO Waterschapsbank), Don Ginsel (CEO Holland Fintech), Jan-Willem van der Schoot (CEO Mastercard NL), Tjeerd Bosklopper (CEO NN NL), Joanne Kellermann (Chair PFZW), Steven Maijoor (Chair ESMA), Radboud Vlaar (CEO Finch Capital), Karin van Baardwijk (CEO Robeco) en Annette Mosman (CEO APG).  

Consumers may soon see products containing cocoa-free chocolate appearing on shelves as confectionery manufacturers look to manage increased volatility in the price and supply of cocoa beans, according to newly-released research from Rabobank. But what will it taste like? We ask a RaboResearch analyst.See omnystudio.com/listener for privacy information.

Economics power duo Jane Foley and Christian Lawrence return to discuss the first 12 months of the Trump administration and the 2026 outlook for economies in the US and Europe. As always, the conversation is far-reaching, touching on:  The AI boom and its impact on business operations and economic growth. Inflation and the legacy of higher food, housing, and healthcare prices. Interest rates, currencies, and the threats to an independent Federal Reserve. The waning predictive power of consumer confidence surveys. The incomplete and lasting impact of tariffs and Trump's challenge to the geopolitical order. The impact of immigration policies on population growth and economic activity. Have a question, qualm, or story to tell, reach out via email: Bourcard.Nesin@Rabobank.com Sign up to access our written research: RaboResearch sign-up   Note: The content and opinions presented within this podcast are not intended as investment advice, and the opinions rendered are that of the individuals and not Rabobank or its affiliates and should not be considered a solicitation or offer to sell or provide services.   Disclaimer: Please refer to our global RaboResearch disclaimer at https://www.rabobank.com/knowledge/disclaimer/011417027/disclaimer for information about the scope and limitations of the material published on the podcast. 

Geopolitical tensions remain the top risk to agriculture in 2026, according to a new report. Rabobank's Agribusiness Outlook says the sector is well positioned to navigate such challenges. Rural Reporter Dusty Fitzpatrick spoke with RaboResearch General Manager Stefan Vogel about the situation: Subscribe to the National Rural News podcast: http://bit.ly/RuralNewsPodcastSee omnystudio.com/listener for privacy information.

Welcome to this extra episode of the Leaders in Finance Podcast, recorded right after the Leaders in Sustainable Finance Event 2026 at Pakhuis de Zwijger in Amsterdam, where over 200 participants joined from across financial institutions and NGOs. In this conversation, Prof. Karen Maas (Professor of Accounting & Sustainability, Open University, and Director of the Impact Centre Erasmus, Erasmus University), Ambika Jindal (Global Head, Systemic Change Accelerator, ING), and Bart van Kampen (Partner, Strategy & Operations, KPMG) reflect together with host Marije Tolsma-Groen on what felt different this year: a shift from big sustainability ambition to the practical question of execution, and how digital tools can actually help accelerate delivery. They talk about what it takes to move from measuring future value to building it into today's models and decisions, how to close the “say-do” gap, and why collaboration across the value chain matters, even when it is legally and competitively complicated. Listen now!   *** Leaders in Finance is made possible by the support of EY, Mogelijk Vastgoedfinancieringen, and Lepaya More information about our partners is available at our partner page.    ***  Want to stay up to date with Leaders in Finance? Subscribe to the newsletter.   ***  Questions, suggestions, or feedback? We'd love to hear from you! You can reach us via email at info@leadersinfinance.nl and check out our website.   *** Eerdere gasten bij de Leaders in Finance podcast waren onder andere: Klaas Knot (President DNB), Robert Swaak (CEO ABN AMRO), Frank Elderson (directie ECB), David Knibbe (CEO NN), Janine Vos (RvB Rabobank), Jos Baeten (CEO ASR), Nadine Klokke (CEO Knab), Gita Salden (CEO BNG Bank),  Annerie Vreugdenhil (CIO ING), Karien van Gennip (CEO VGZ), Maarten Edixhoven (CEO Van Lanschot Kempen), Jeroen Rijpkema (CEO Triodos), Chantal Vergouw (CEO Interpolis), Geert Lippens (CEO BNP Paribas NL), Simone Huis in 't Veld (CEO Euronext), Nout Wellink (ex DNB), Onno Ruding (ex minister van financiën), Maurice Oostendorp en Martijn Gribnau (CEOs Volksbank), Yoram Schwarz (CEO Movir), Laura van Geest (Bestuursvoorzitter AFM) Katja Kok (CEO Van Lanschot CH), Ali Niknam (CEO bunq), Nick Bortot (CEO BUX), Petri Hofsté (Commissaris, o.a.  Rabobank en Achmea), Peter Paul de Vries (CEO Value8), Barbara Baarsma (CEO Rabo Carbon Bank), Jan van Rutte (Commissaris PGGM, BNG Bank, vml CFO ABN AMRO), Marguerite Soeteman-Reijnen (Chair Aon Holdings), Annemarie Jorritsma (o.a. Voorzitter NVP), Lidwin van Velden (CEO Waterschapsbank), Don Ginsel (CEO Holland Fintech), Jan-Willem van der Schoot (CEO Mastercard NL), Tjeerd Bosklopper (CEO NN NL), Joanne Kellermann (Chair PFZW), Steven Maijoor (Chair ESMA), Radboud Vlaar (CEO Finch Capital), Karin van Baardwijk (CEO Robeco) en Annette Mosman (CEO APG).  

Jamie Mackay talks to Geoff Ross, Christopher Luxon, Dr Robyn Dynes, Emma Higgins, and Winston Peters.See omnystudio.com/listener for privacy information.

Rabobank’s senior ag analyst previews the bank’s NZ Agribusiness Outlook 2026 - titled "Keeping one move ahead".See omnystudio.com/listener for privacy information.

In this episode, we're joined by analyst Francois Sonneville and relationship manager Jonathan Magel to discuss the biggest news stories from the past 30 days, including: The US issues new dietary guidelines for alcohol consumption. Will it impact consumption or regulatory pressure? The CEO of Heineken will be stepping down later this year. Virtually every major alcohol business has seen executive turnover in the last 18 months. Does this signal a shift in our expectations for a quick return to growth or a resignation that the problems are more structural?  Recent reports suggest Republic National Distributing Company, the second-largest wine and spirits wholesaler in the US, will sell operations in seven states to Reyes Holdings, famously not a wine and spirits distributor. Could this signal an end or just the beginning of upheaval in the US wholesaler landscape?  The advent of GLP-1s in pill form and the lower pricing will inevitably lead to higher uptake. Should beverage companies have a "GLP-1 strategy"?  Want to sign up for our written research? Have a question, qualm, or story to tell, reach out via email: Bourcard.Nesin@Rabobank.com Check out the rest of our written research: rabobank.com/knowledge Note: The content and opinions presented within this podcast are not intended as investment advice, and the opinions rendered are that of the individuals and not Rabobank or its affiliates and should not be considered a solicitation or offer to sell or provide services.   Disclaimer: Please refer to our global RaboResearch disclaimer at https://www.rabobank.com/knowledge/disclaimer/011417027/disclaimer for information about the scope and limitations of the material published on the podcast. 

Jamie Mackay talks to Cameron Bagrie, Jo Luxton, Farmer Tom Martin, Jen Corkran, Shane Jones, and Jane Smith. See omnystudio.com/listener for privacy information.

Rabobank’s senior animal protein analyst has only positive comments to make about the buoyant prospects for red meat in 2026.See omnystudio.com/listener for privacy information.

Markets are nervous as it feels like an either-or setup soon with the US-Europe relationship over the Trump administration's apparent intent to "take" or "buy" Greenland - are we set for a TACO and a deal or a significant break in the transatlantic alliance, both in terms of defense and trade? Also, history is being made with the treatment of Venezuela's oil revenues, US treasury yields may finally be on the move, earnings season is revving up and much more. Today's pod is hosted by Saxo Global Head of Macro Strategy John J. Hardy. As noted on today's pod, Brent Johnson of Santiago Capital interviewed Rabobank's visionary macro strategist Michael Every - a must watch. Also, an X account of unknown authenticity but with many provocative takes on many pressing issues of late points out the novel treatment of Venezuela's oil revenues and what this could indicate. For our longer form podcasts, you will also find links discussed on the podcast and a chart-of-the-day over at the John J. Hardy substack. Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo. Intro and outro music by AShamaluevMusic DISCLAIMER This content is marketing material. Trading financial instruments carries risks. Always ensure that you understand these risks before trading. This material does not contain investment advice or an encouragement to invest in a particular manner. Historic performance is not a guarantee of future results. The instrument(s) referenced in this content may be issued by a partner, from whom Saxo Bank A/S receives promotional fees, payment or retrocessions. While Saxo may receive compensation from these partnerships, all content is created with the aim of providing clients with valuable information and options.

Chocolate products could be in for a shake-up, as manufacturers race to develop cocoa alternatives. A Rabobank report shows food companies are looking into new technologies to substitute traditional beans. Climate-related pressures are driving up global cocoa prices, and disrupting supply chains. RaboResearch analyst Paul Joules says companies will look into fermenting plants like oats and seeds for an alternative - to use in products like chocolate fillings. "The taste can be a little bit different, it can be a bit more sour if they don't quite get the fermentation right - and it's not necessarily a direct replacement for a typical chocolate bar." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Confidence in New Zealand's rural sector has really started recovering over the past year or so. Stabilising interest rates, great dairy results, and promising meat exports have formed a foundation for what will hopefully be a successful 2026. Confidence dropped slightly in the last quarter of last year, but it's still much higher than it has been over previous years. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Hamish McKay talks to Simon Goss, Stefan Vogel, Hamish Marr, Dr Jacqueline Rowarth, and Wayne Langford.See omnystudio.com/listener for privacy information.

This Day in Legal History: Judge Robert W. Archbald ImpeachedOn January 13, 1913, Judge Robert W. Archbald of the U.S. Commerce Court was convicted by the U.S. Senate on articles of impeachment and removed from office, becoming one of the earliest federal judges ousted through this constitutional process. The House had impeached him the prior July on thirteen charges of corruption and misconduct, five of which the Senate upheld. Archbald had used his judicial position to secure favorable deals from railroads and coal companies—entities that regularly appeared before his court. These secretive contracts, executed through intermediaries to obscure his involvement, allowed him to purchase valuable coal lands below market value.One of the more egregious acts involved advising a railroad representative on how to amend legal pleadings to improve their chances of winning in court—a direct violation of judicial ethics. After a twenty-eight-year judicial career, Archbald's fall was swift. His defense largely relied on claims of pure motives, rather than denial of the facts. A senator observed afterward that Archbald was “convicted, not so much of being corrupt, as of lack of plain common sense,” noting his failure to grasp the ethical boundaries expected of judges.The Senate vote was overwhelming, with only five senators dissenting. Every former judge in the Senate, save one, voted to convict. Archbald's conviction marked the first successful impeachment for judicial corruption in U.S. history; earlier impeachments, like that of Judge Pickering in 1804, were rooted in issues like insanity, not unethical conduct. The case prompted calls for reform of the impeachment process itself, with suggestions to create a special judicial conduct court or authorize Senate committees to streamline trials. More broadly, the case had a chilling effect throughout public service, reinforcing ethical standards across all levels of government.Uber is facing a high-stakes sexual assault trial in Phoenix that could have sweeping implications for thousands of similar lawsuits. The case, brought by Oklahoma resident Jaylynn Dean, alleges that Uber failed to protect her from an assault by a driver in 2023. Dean claims Uber has long been aware of sexual assaults committed by drivers but has not taken adequate steps to improve rider safety. This trial marks the first federal bellwether case in a massive consolidation of over 3,000 lawsuits involving similar allegations.Uber maintains that it should not be held liable for criminal actions of independent contractors, arguing its safety features, background checks, and transparency are sufficient. Still, the company faces additional lawsuits in California state court and has been criticized for its historic lack of oversight and a culture focused more on growth than safety.A jury in a previous California case found Uber negligent but ruled that negligence wasn't a direct cause of harm. Uber tried to delay Dean's trial, claiming her attorneys influenced the jury pool with misleading advertisements, but the judge allowed proceedings to continue. The outcome could influence settlement talks, regulatory scrutiny, and investor confidence as Uber continues to defend its safety record.Uber faces sexual assault trial in Arizona that puts its safety record under scrutiny | ReutersThe U.S. Supreme Court is set to hear arguments in two high-profile cases challenging state laws in Idaho and West Virginia that bar transgender students from participating in female sports teams. While the court previously upheld a ban on gender-affirming care for minors in Tennessee, that ruling was seen as narrow. The decision to now consider sports-related bans has heightened concerns among transgender rights advocates about broader implications for legal protections.At the heart of these cases is whether such bans violate the Constitution's Equal Protection Clause or Title IX, which prohibits sex-based discrimination in education. Legal scholars warn that the court's ruling could shape future policies affecting transgender people beyond athletics—such as bathroom access, military service, and healthcare. The Supreme Court's conservative majority has previously supported limits on transgender rights, including allowing restrictions on gender markers for passports and banning transgender people from military service.Idaho's law is being challenged by Lindsay Hecox, a transgender college student who has since stopped playing sports, while West Virginia's ban is being challenged by 15-year-old Becky Pepper-Jackson, who has been allowed to compete under lower court rulings. The states argue the laws protect fairness in women's sports by preventing perceived competitive advantages. Lower courts have reached opposing conclusions on the legality of the bans, setting the stage for the Supreme Court to clarify whether restrictions based on biological sex or transgender status require heightened scrutiny.The Court may also have to decide whether its 2020 decision protecting transgender workers under Title VII extends to school settings under Title IX. Legal observers say this case could reshape how courts approach not just transgender rights but broader equal protection claims.US Supreme Court's next transgender rights battle could affect more than sports | ReutersThe U.S. Supreme Court has declined to hear Citigroup's appeal in a lawsuit accusing the bank of enabling a major fraud at Mexican oil services company Oceanografía, effectively allowing the case to proceed. More than 30 plaintiffs—including bondholders, shipping firms, and Rabobank—allege that Citigroup's Banamex unit knowingly financed Oceanografía to the tune of $3.3 billion between 2008 and 2014, despite the company's mounting debt and fraudulent practices, including forged Pemex signatures.Oceanografía, which serviced Mexico's state-owned oil giant Pemex, collapsed in 2014 and was later declared bankrupt. Citigroup uncovered $430 million in fraudulent advances and was fined $4.75 million by the SEC in 2018 for inadequate internal controls. Plaintiffs argue Citigroup hid critical information while profiting from interest on the advances.At the center of the legal battle is whether bondholders can sue Citigroup under the Racketeer Influenced and Corrupt Organizations Act (RICO), which allows for triple damages. Citigroup contended their claims were standard securities fraud allegations not suited for RICO and pointed to conflicting rulings in other federal appeals courts. However, the 11th Circuit found the plaintiffs' claims plausible, noting it defied belief that a sophisticated bank like Citigroup was unaware of the fraud. By refusing to hear the appeal, the Supreme Court leaves that ruling intact and allows the lawsuit to move forward.US Supreme Court rebuffs Citigroup appeal in lawsuit over Mexican oil company fraud | ReutersThis week, my column for Bloomberg looks at an obscure but telling tax provision: the so-called NASCAR tax break.Dozens of tax provisions expired at the end of 2025, and Congress will soon debate whether to revive them. Among these is the motorsports entertainment complex depreciation break, which allows racetrack owners to write off their facilities over just seven years—a timeline far shorter than that allowed for buildings like housing or wastewater plants. Initially enacted in 2004 as part of the American Jobs Creation Act, the break was a reaction to a Treasury reclassification effort that would have extended depreciation timelines for motorsports. Rather than accepting the change, Congress locked in the favorable treatment to preserve the status quo.Since then, the provision has been extended repeatedly, despite no clear policy rationale or economic justification. Unlike other tax incentives that at least attempt to stimulate broader economic development, the NASCAR break benefits a narrow group of wealthy owners in a lucrative, sponsor-heavy industry. The economic spillover is minimal, and unlike subsidies for sports stadiums—which are themselves of dubious value—this break doesn't even offer the illusion of local benefit.Its survival has more to do with inertia and lobbying than public interest. Letting it remain expired would save money and demonstrate that the tax code isn't permanently rigged in favor of politically connected sectors. More broadly, the column argues for a disciplined framework to evaluate all expiring provisions based on economic efficiency, equity, administrability, and demonstrated value. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe

The beef-on-dairy revolution is a move that has turned day-old calves from a sale-barn afterthought into thousand-dollar revenue streams. Joining us is Rabobank’s Senior Beef Industry Analyst for North America, Lance Zimmerman. He tells us how and why the U.S. is currently leading the pack in this global trend. See omnystudio.com/listener for privacy information.

In deze tweede terugblikaflevering kijken we terug op 2025 door de bril van infrastructuur, institutionele macht en de markt. Een belangrijk vertrekpunt daarbij zijn stablecoins. De hoeveelheid geld die bij uitgevers als Tether staat geparkeerd, groeide het afgelopen jaar verder door. Die toename kwam vooral door bredere inzet van stablecoins als handelsmiddel, als schakel tussen crypto en traditionele markten en als alternatief voor dollars in delen van de wereld waar toegang tot het financiële systeem beperkt is. Dat roept vragen op over de rol van die uitgevers. Grote sommen geld staan feitelijk buiten het bancaire systeem, terwijl ze wel een steeds belangrijkere functie vervullen binnen datzelfde systeem. Ook tokenisatie stond dit jaar nadrukkelijker op de agenda. Jarenlang bleef het vooral bij beloftes, maar in 2025 kwamen concrete toepassingen op gang. Banken en financiële instellingen experimenteerden met onchain money markets, fondsen en andere producten. Bedrijven als Robinhood brachten zelfs aandelen naar de blockchain. De vraag is waar in dit model uiteindelijk de waarde terechtkomt: bij de blockchain zelf, bij de uitgever van het product of bij de partij die bestaande financiële instrumenten ‘onchain’ brengt. Dat bepaalt ook voor wie deze ontwikkeling het meest gunstig uitpakt. Een opvallende toepassing dit jaar was Polymarket, een platform voor voorspellingen dat liet zien hoe blockchains kunnen worden ingezet voor markten rond informatie en verwachtingen. Tegelijkertijd werd ook in Nederland geëxperimenteerd. ING werkte aan plannen voor een euro-stablecoin en Rabobank bood een Bitcoin ETP aan. Dat wijst op serieuze interesse, maar ook hier blijft de vraag of dit fundamenteel nieuwe toepassingen zijn of vooral varianten op bestaande producten. Richting 2026 lijkt verdere adoptie waarschijnlijk, maar het debat draait steeds meer om de toegevoegde waarde en de vraag of crypto wordt geïntegreerd of juist opgeslokt door de traditionele financiële wereld. Institutionele adoptie speelde daarbij een grote rol. In de VS gingen vrijwel alle grote partijen aan de slag met crypto, variërend van banken tot vermogensbeheerders. De drijfveer lijkt een mix van overtuiging en angst om achter te blijven. Fed-voorzitter Jerome Powell noemde bitcoin dit jaar ‘digital gold’, een uitspraak die veel zegt over hoe de munt inmiddels wordt gezien. Ook overheden roerden zich. De staat Texas begon met het aanleggen van een strategische bitcoinreserve. Dat is iets anders dan bedrijven die bitcoin op de balans zetten, zoals Strategy. Dat laatste bleek geen onverdeeld succes. Het aantal bedrijven met een bitcoinreserve groeide snel, maar sommigen kwamen al in de problemen. Tot slot de markt. Eind 2024 werden scenario’s geschetst waarin bitcoin eind 2025 op 150.000 dollar zou kunnen staan, maar zelfs dat niveau werd niet gehaald. De markt overschatte bepaalde verhalen, terwijl eerdere euforie de prijs tijdelijk opstuwde. In het najaar kantelde het sentiment en bleek de markt minder stabiel dan gehoopt. Dat roept de vraag op hoe volwassen crypto werkelijk is. Vooruitkijkend spelen macro-economische ontwikkelingen, de rol van ETF’s en bredere financiële trends een bepalende rol voor 2026. Co-hosts zijn Bert Slagter en Mauro Halve. Gasten Bert Slagter Mauro Halve Links Host Daniël Mol Redactie Daniël Mol Matthijs DamsteegSee omnystudio.com/listener for privacy information.

Welcome to this Christmas Eve edition of RealAg Radio with your host Shaun Haney! On today’s show, Haney is joined by: JP Frossard of Rabobank on how the rise of GLP-1 use impacts food consumption trends; and Antoine Bernet of Bayer Crop Science Canada on innovation and the canola’s future. Merry Christmas, everyone and have... Read More

Welcome to this Christmas Eve edition of RealAg Radio with your host Shaun Haney! On today’s show, Haney is joined by: JP Frossard of Rabobank on how the rise of GLP-1 use impacts food consumption trends; and Antoine Bernet of Bayer Crop Science Canada on innovation and the canola’s future. Merry Christmas, everyone and have... Read More

Jamie Mackay talks to Ray Smith, Nadia Lim and Carlos Bagrie, Miles Hurrell, Jane Smith, and Christopher Luxon. See omnystudio.com/listener for privacy information.

The end of 2025 marks the end of an era. Our dear friend and cohost Jim Watson returns for one last episode. We celebrate 10 years of ingenious, unparalleled drinks industry coverage with a very special episode, discussing the biggest story from each year of the past decade. And if you've appreciated Jim's work over 125+ episodes of this show, you should thank him directly at: JCWatson334@gmail.com. Tune in to learn something and remember some pivotal beverage industry moments as we break down: 2016:  The Anheuser-Busch acquisition of SABMiller 2017:  Marijuana legalization in Canada and the US 2018:  The Keurig Dr Pepper merger and the broader category blurring in soft drinks 2019:  The year hard seltzers and RTDs took craft beer's momentum 2020:  Ugh… nothing in particular        2021:  The year of revenge spending and crazy valuations 2022:  The year inflation took over the world 2023:  The fallout from the anti-trans backlash against Bud Light 2024:  The year of plummeting valuations and the wine and spirits industry starting to panic 2025:  Trump Tariffs and RNDC pulling out of California   Want to sign up for our written research? Have a question, qualm, or story to tell, reach out via email: Bourcard.Nesin@Rabobank.com Check out the rest of our written research: Rabobank.com/knowledge Note: The content and opinions presented within this podcast are not intended as investment advice, and the opinions rendered are that of the individuals and not Rabobank or its affiliates and should not be considered a solicitation or offer to sell or provide services. Disclaimer: Please refer to our global RaboResearch disclaimer at https://www.rabobank.com/knowledge/disclaimer/011417027/disclaimer for information about the scope and limitations of the material published on the podcast. 

Minimaal 150 miljard moet het kabinet de komende jaren gaan investeren. Anders wordt het niks met de economische groei. Dat is een van de adviezen die oud-ASML baas Peter Wennink doet. Geld dat niet alleen economie, maar ook de beurs een slinger kan geven.Wij van BNR Beurs gingen voor je op onderzoek: welke aandelen hebben er baat bij dat het rapport van de polder-Draghi niet in een diepe la beland en wordt uitgevoerd?Ook gaan we even terug in de tijd. Naar de financiële crisis van 2008 om precies te zijn. Een periode waarvan jij (als je toen belegde) misschien nog wel eens gillend wakker wordt. Om de rust te bewaren stelde de Amerikaanse regering de nodige regels op. Regels die de Trump-regering nu wil versoepelen. Verder blikken we nog even terug op de discodip van het aandeel Magnum en kijken we naar de raketjes van Musk. Moet je daar wel in beleggen? Te gast: Erik Mauritz, van Trade Republic.See omnystudio.com/listener for privacy information.

Kiwi consumers could finally see butter prices fall, thanks to increased global dairy production. New research from Rabobank shows EU, UK, and US production has been surging, pushing down global prices. Fonterra's already forecasting a lower farmgate payout than last season. Fonterra Co-operative Council Chair John Stevenson told Heather du Plessis-Allan the change could be good news for supermarket shoppers. He says if the surge continues, there'll be an impact on our store shelves. LISTEN ABOVE See omnystudio.com/listener for privacy information.

It's The Ranch It Up Radio Show! Join Jeff Tigger Erhardt, Rebecca Wanner AKA BEC and their crew as they hear how feeding Farmatan to bred cows now can help prevent scours this upcoming calving season.  Plus news, markets, updates, bred cow prices and lots more on this all-new episode of The Ranch It Up Radio Show.  Be sure to subscribe on your favorite podcasting app or on the Ranch It Up Radio Show YouTube Channel. How To Prevent Calf Scours: Feed Farmatan   Feed Farmatan To Prevent Scours This Upcoming Calving Season Calving season is getting ready to start for many producers and for some others it is still a ways away yet.  Regardless, we need to get a jump on scours and make sure each and every calf that hits the ground has the best chance of survival.  A simple solution… FARMATAN from Imogene Ingredients.   WHAT CAUSES SCOURS IN BEEF CATTLE/CALVES Clostridia-Enterotoxemia The most common form of Clostridium in cattle is caused by Clostridia perfringens. The gram-positive bacteria are a challenge due to its ability to form spores and lay dormant for long-periods of time. The bacteria reproduce by releasing spores into its environment (soil, feed, manure). The spores can even lay dormant in the animal's intestine until opportunity presents itself. Infection takes place either through ingestion of spores or through an open wound. The most severe cases happen within the first month of a calf's life, and can result in sudden death. Clinical Signs Diarrhea - Bloody, Mucus Present, Bubbly Dehydrated Bloat Blindness Prevention/Treatment: Prevention can be difficult due to the Clostridia spores being extremely durable and present almost everywhere. Complete cleanout and disinfection between calves is helpful, but not always effective. A good vaccination program will reduce clinical disease. The best method is to develop good gut health and the immune system of the calf. Farmatan has been shown to strengthen the intestinal wall, helping to prevent infection from taking hold. Coccidiosis Cattle are host to numerous species of Coccidia, a single-celled protozoal parasite. Infection and clinical symptoms can happen any time during a calf's life, with the most severe reaction usually occurring between 3-6 weeks of age. The life-cycle of coccidia requires time to infect the intestine causing destruction of the mucosal and epithelial lining. The oocytes mature outside the host in warm, moist environments before being consumed, causing infection of a new host. Clinical Signs Diarrhea - Watery, Bloody Depression Weight Loss Prevention/Treatment: Prevention of Coccidiosis is possible by keeping young calves separate from older animals, providing clean water and feed, and dry conditions. Isolation of infected animals is key to preventing transmission. Keeping the pen dry is the most important step a farmer/rancher can take in preventing Coccidiosis. Treatment can have a good impact on reducing secondary disease, and speeding up recovery time. Farmatan has been shown to disrupt the reproductive cycle of Coccidia; and may help strengthen the intestinal wall to prevent infection, in both the cow and calf. Coronavirus Bovine Coronavirus is a ubiquitous, envelope-viral disease, causing respiratory and enteric infection. There are many serotypes for this virus, making it difficult to test for, and create a vaccine. Coronavirus can present as either diarrhea and/or respiratory illness; transmitted through nasal discharge and/or feces. Animal reservoirs continue to spread the disease, and make eradication almost impossible. Clinical disease will likely occur between days 10-14, and present for up to 4 days. Clinical Signs Diarrhea - Watery Nasal Discharge Coughing Prevention/Treatment: Prevention is difficult due to wild animals transmitting the disease. Keeping wild animals out of animal enclosures is essential. Isolation of infected animals is critical to preventing the spread of Coronavirus. Adequate colostrum intake, along with a good vaccination program will help prevent clinical disease. Learn more about the positive effects of Farmtan's active ingredient on Coronavirus HERE. Cryptosporidium Cryptosporidium Parvum is a single-celled parasite responsible for causing infection in young calves. The infection takes place within the first four weeks of a calves' life, afterwards immunity has developed within the calf. The parasite is either passed from the cow or spread through infected water sources. Clinical Signs Diarrhea - Watery, Bloody, Mucus present Colic Depression Prevention/Treatment: Good sanitary conditions, especially clean water is essential in preventing transmission of cryptosporidium. Isolation of sick calves will help reduce the effect on the overall herd. There is some good effect of calves given adequate colostrum, however this is likely helping by reducing other pathogenic loads rather than a direct effect on Cryptosporidium, itself. Farmatan fed prior to calving has been shown to disrupt the life-cycle and reduce transmission from the cow. The direct action of Farmatan on the parasite makes it an excellent choice for treating calves. Learn more about the positive effect of Farmatan's active ingredient HERE. E-Coli Escherichia Coli is a bacterial infection that affects calves within the first week of their life. The bacteria colonize in the lower intestine and produce a toxin. The toxin causes excessive secretion of fluids. The zoonotic disease has special importance in food safety and human health. Colostrum and natural immunity are often not sufficient in preventing infection in cases of high bacterial concentrations. Clinical Signs Diarrhea - Creamy, Yellow Abdominal Pains Fever Vomiting Prevention/Treatment: The best prevention methods for E. Coli include: clean water, dry bedding/environment, isolation of infected animals, and vaccination. Treatment with antibiotics and oral fluids have great benefits in reducing clinical symptoms of the disease. Farmatan has been shown to reduce bacterial load and help prevent infection. Learn more about the positive effects of Farmatan's active ingredient HERE. Rotavirus Rotavirus in calves is caused by a virus belonging to the Reoviridae family, as a non-envelope RNA virus. Rotavirus is thought to be the most common cause of neonatal diarrhea in calves. The virus tends to affect calves between the age of 1-day-old up to a month, with most cases presenting within the first week of life. Shedding and reinfection can happen in older calves and cows. Clinical symptoms are rarely present after the first month of life; older animals tend to either be carriers or asymptomatic. The majority of herds have some level present, with transmission likely happening during or shortly after birth. Clinical Signs Diarrhea - Pale Yellow, Bloody Dehydrated Dull calves Reluctant to drink Prevention/Treatment: The ideal scenario is to prevent infection through, sanitary facilities (calving barn), outdoor calf housing, and a good vaccination program. Colostrum will provide much needed antibodies, protecting the calf before their immune system is fully developed to combat the disease. Farmatan fed prior to calving can help reduce the pathogen load of the cow, reducing the likelihood of transmission. Farmatan supplemented in the milk has been shown to decrease the virus' ability to cause infection and clinical disease. The best treatment for calves already presenting clinical disease is to administer oral fluids/electrolytes to rehydrate the calf. Learn more about the positive effect of Farmatan's active ingredient HERE. Salmonella Salmonella infection of cattle is caused by a variety of species within the family. While the disease is uncommon in cattle with little effect on calf health, it has massive implications for human health and food safety. The bacteria spreads through direct contact or contaminated feed & water. This disease is highly regulated by the USDA. The most severe cases of salmonella affect calves between the ages of 7-10 days old. Clinical Signs Diarrhea - Bloody (flakes of slough tissue), Watery, Mucus present Lethargic Fever Prevention/Treatment: Prevention is always the best option: provide clean water, feed, and bedding. Isolate infected animals, ensure adequate colostrum intake, and develop a vaccination program with your veterinarian. Treatment with antibiotics and fluids (oral or intravenous) greatly increases the survival rate of calves infected with Salmonella. Farmatan has been shown to help reduce the likelihood of infection by protecting the gut, and reduce recovery time of infected animals.  LEARN MORE ABOUT IMOGENE INGREDIENTS  PRODUCTS Paul Mitchell & Paul Martin on RFD TV Rural America Live!  WATCH: https://vimeo.com/759549430/bd063fcc1f Beef Industry News Possible Slow Beef Trend in 2026 According To Rabobank Beef production by major global producers is expected to remain sluggish next year, according to analysts at the Dutch financial services cooperative Rabobank. The recent contraction in beef production is expected to affect major producers in Brazil, Canada and the United States, with New Zealand being likely to see the sharpest percentage drop in beef production, the Rabobank report predicted. Several issues are contributing to the 2025 decline and the expected drop next year, especially in light of limited cattle herds ready for slaughter in both the United States and Brazil, the report added. The long-term contraction of available cattle is being blamed for significant price hikes for retail beef in the last few years, Rabobank noted. Canada is experiencing a tighter pattern that has resulted in a decline of 41,000 metric tons of beef available for export in 2025 versus levels in 2024, according to the report. Canadian beef output in 2026 is expected to be “more limited” compared with this year for reasons also being experienced south of the Canadian border in terms of the available cattle herd. References: https://meatingplace.com/slower-beef-production-trend-to-continue-in-2026-rabobank/?utm_source=omeda&utm_medium=email&utm_cid=1103020073&utm_campaign=MTGMCD251201004&utm_date=20251201-1300 New World Screwworm Website Tracks Parasite There's a new way for producers and other stakeholders to track the fight against the New World Screwworm — a parasite that threatens live cattle herds. The USDA has launched a dedicated website with up-to-date information on the spread of the screwworm, which so far has been confined to cattle in several Mexican states near the U.S. border. The site includes resources for livestock producers, veterinarians, animal-health officials, wildlife experts, healthcare providers, pet owners, researchers, drug manufacturers, and the general public. Reports of the pest in Mexican cattle prompted the U.S. to halt cattle imports from Mexico back in May. USDA also committed $21 million to boost sterile fly production in Mexico as part of its response. The new website pulls together information from multiple federal partners, including the FDA, the Department of Energy, Homeland Security, the EPA, and the State Department.  Reference: https://www.aphis.usda.gov/livestock-poultry-disease/stop-screwworm Nightshade In Corn Residue Could Be Toxic Have you noticed any black nightshade in your corn stalks that you are grazing or plan to graze? If these fields have too much black nightshade, be careful — it might be toxic. Black nightshade is common in many corn fields in the fall, especially those that had hail damage in the summer or any situation where the corn canopy became thin or open. It usually isn't a problem, but if the density of nightshade is very high, there is the potential that it could poison livestock. Almost all livestock, including cattle, sheep, swine, horses and poultry are susceptible.   Black nightshade plants average about two feet in height and have simple alternating leaves. In the fall, berries are green and become black as the plant matures. All plant parts contain some of the toxin and the concentration increases as plants mature, except in the berries. Freezing temperatures will not reduce the toxicity. It is very difficult to determine exactly how much black nightshade is risky. Guidelines say that a cow would need to consume three to four pounds of fresh black nightshade to be at risk of being poisoned. These guidelines, though, are considered conservative since there is little data on the actual toxicity of nightshade plants. Fortunately, even though nightshade plants remain green fairly late into the fall, cattle usually don't appear to seek out nightshade plants to graze. However, green plants of nightshade might become tempting toward the end of a field's grazing period when there is less grain, husks or leaves to consume.  References: https://www.nationalbeefwire.com/nightshade-in-corn-residue-grazing-could-be-toxic Featured Experts in the Cattle Industry Paul Mitchell – Imogene Ingredients https://www.imogeneingredients.com/ Follow on Facebook: @FarmatanUSA Kirk Donsbach – Financial Analyst at StoneX https://www.stonex.com/ Follow on Facebook: @StoneXGroupInc Shaye Wanner – Host of Casual Cattle Conversation https://www.casualcattleconversations.com/ Follow on Facebook: @cattleconvos Contact Us with Questions or Concerns Have questions or feedback? Feel free to reach out via: Call/Text: 707-RANCH20 or 707-726-2420 Email: RanchItUpShow@gmail.com Follow us: Facebook/Instagram: @RanchItUpShow YouTube: Subscribe to Ranch It Up Channel: https://www.youtube.com/c/RanchItUp Catch all episodes of the Ranch It Up Podcast available on all major podcasting platforms. Discover the Heart of Rural America with Tigger & BEC Ranching, farming, and the Western lifestyle are at the heart of everything we do. Tigger & BEC bring you exclusive insights from the world of working ranches, cattle farming, and sustainable beef production. Learn more about Jeff 'Tigger' Erhardt & Rebecca Wanner (BEC) and their mission to promote the Western way of life at Tigger and BEC. https://tiggerandbec.com/ Industry References, Partners and Resources For additional information on industry trends, products, and services, check out these trusted resources: Allied Genetic Resources: https://alliedgeneticresources.com/ American Gelbvieh Association: https://gelbvieh.org/ Axiota Animal Health: https://axiota.com/multimin-campaign-landing-page/ Imogene Ingredients: https://www.imogeneingredients.com/ Jorgensen Land & Cattle: https://jorgensenfarms.com/#/?ranchchannel=view Medora Boot: https://medoraboot.com/ RFD-TV: https://www.rfdtv.com/ Rural Radio Network: https://www.ruralradio147.com/ Superior Livestock Auctions: https://superiorlivestock.com/ Transova Genetics: https://transova.com/ Westway Feed Products: https://westwayfeed.com/ Wrangler: https://www.wrangler.com/ Wulf Cattle: https://www.wulfcattle.com/

In this episode, RaboResearch analyst Vítor Pistóia talks with Rabobank account managers to give an update on Australia's winter grain harvest. Together, they unpack the trends in grain yield and quality for the 2025/26 season and how market strategies may play out for an above-average crop. While large stocks pressure wheat and barley prices, the direction of the canola market hinges on geopolitics.    Disclaimer: Please refer to our global RaboResearch disclaimer at https://www.rabobank.com/knowledge/disclaimer/011417027/disclaimer for information about the scope and limitations of the material published on the podcast. 

As a self-regulatory organization, engagement with member firms is vital to FINRA's success. On this episode, we highlight engagement opportunities, provide insight into how FINRA is listening and taking action on what we're hearing, and encourage even more listeners to get actively involved in FINRA's outreach.FINRA Senior Vice President Kayte Toczylowski is joined by two current FINRA regional committee members: Serving on FINRA's Midwest regional committee, Margaret Dubil, Director of Surveillance for Stifel, Nicolaus & Company, and Stifel Independent Advisors; and serving on the New York regional committee, Peter Garcia, Head of Business Development and Controls at Rabobank and Officer of Rabo Securities USA, Rabobank's U.S. broker- dealer. The two provide firsthand experience on engaging with FINRA.Resources mentioned in this episode:FINRA ForwardFINRA Crypto and Blockchain Education ProgramBlog Post: FINRA Forward's Rule Modernization—An UpdateBlog Post: FINRA Forward Initiatives to Support Members, Markets and the Investors They ServeFINRA Conferences and Events2025 Involvement and Election Process OverviewFINRA Engagement PortalFINRA Advisory Committees Find us: LinkedIn / X / YouTube / Facebook / Instagram / E-mailSubscribe to our show on Apple Podcasts, Google Play and by RSS.

Special guest Richard Withagen (Equity Analyst at Kepler Cheuvreux) joins us as we review the latest earnings results from the spirits industry (Diageo, Pernod Ricard, Brown-Forman, Campari, Rémy Cointreau, and Becle). Alongside individual company results, we discuss the broader impact of regulation on spirits sales, how long a transitory/cyclical downturn can be before it is considered structural, the sharp shift in fortunes between geographies, and the difficulty of off-loading unwanted brands when literally everyone else is doing the same thing.    Want to sign up for our written research? Have a question, qualm, or story to tell, reach out via email: Bourcard.Nesin@rabobank.com   Check out the rest of our written research: rabobank.com/knowledge. Note: The content and opinions presented within this podcast are not intended as investment advice, and the opinions rendered are that of the individuals and not Rabobank or its affiliates and should not be considered a solicitation or offer to sell or provide services.   Disclaimer: Please refer to our global RaboResearch disclaimer at https://www.rabobank.com/knowledge/disclaimer/011417027/disclaimer for information about the scope and limitations of the material published on the podcast. 

Craft spirits companies have seen an abrupt shift in fortune. Loaded with debt, rising cost of goods sold, and declining demand, many are struggling to survive. With help from our expert panel, we explore the greatest challenges craft distillers are facing and some of the financial and strategic decisions that could prove the difference between closure and living to sell another year. Guests on today's episode:  Maria Pearman – Advisory Partner / fractional CFO, GHJ  Margie Lehrman – CEO, American Craft Spirits Association Becky Harris – President & Chief Distiller, Catoctin Creek Distilling Company.    Want to sign up for our written research? Have a question, qualm or story to tell, reach out via email: bourcard.nesin@rabobank.com Check out the rest of our written research: rabobank.com/knowledge   Note: The content and opinions presented within this podcast are not intended as investment advice, and the opinions rendered are that of the individuals and not Rabobank or its affiliates and should not be considered a solicitation or offer to sell or provide services   Disclaimer: Please refer to our global RaboResearch disclaimer at https://www.rabobank.com/knowledge/disclaimer/011417027/disclaimer for information about the scope and limitations of the material published on the podcast.

The odds are stacked against them. They have less money, less influence with distributors, and fewer R&D resources to alchemize the perfect drink, yet smaller RTD brands are going toe-to-toe and often winning the race to capture the fastest-growing space in the beverage alcohol business. In this epsidoe, Evan Burns, CEO at The Finnish Long Drink, and Clement Pappas, cofounder and CEO of Stateside Brands – the company that owns Surfside – explain how, against all odds, they built successful brands in the face of powerful competition. They share some of the hidden advantages that independent brands have over the powerful yet lumbering incumbents. Want to sign up for our written research? Have a question, qualm, or story to tell, reach out via email: Bourcard.Nesin@Rabobank.com Check out the rest of our written research: rabobank.com/knowledge. Note: The content and opinions presented within this podcast are not intended as investment advice, and the opinions rendered are that of the individuals and not Rabobank or its affiliates and should not be considered a solicitation or offer to sell or provide services. Disclaimer: Please refer to our global RaboResearch disclaimer at https://www.rabobank.com/knowledge/disclaimer/011417027/disclaimer for information about the scope and limitations of the material published on the podcast.