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Another good one from Agora – courtesy of their 5 Minute Forecast (if you couldn’t tell, I read this publication religiously): On the other side of the world, extreme drought and telling profit margins have Australian rice farmers switching to growing wine grapes. Australian rice? Yeah, that’s what we thought, too. But the reduction in […]
Courtesy of Agora’s 5 Min Forecast: Headlining the global food crisis, rice found itself another record high yesterday. Futures in Chicago ticked up another 2.3%, to $22.67, per 100 pounds when the Philippines — the world’s biggest rice importer — put in a buy order for 1 million metric tons. That’s more than 50% of […]
From Agora’s 5 Minute Forecast: “This cold, wet start to April,” explains Kevin Kerr, “means farmers may not get corn into the ground before May 1. That is devastating. If cold, wet weather persists in the Corn Belt and farmers don’t plant until after May 1 and then, as in ’83, we see dry weather […]
Shout out to my boy Marcos for forwarding this one along. A BB&T Capital Markets analyst said Monday corn rationing may be necessary this year, following a U.S. Department of Agriculture report predicting farmers would plant far fewer acres of corn in 2008. Full article
Article in Tuesday’s Financial Times about what’s different about high food prices this time around, and the ramifications that could be felt as a result.
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