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Dec 30

All Evidence Points To A Dramatic Increase In Food Prices Worldwide, Possible Shortages

by Alex

The Intel Hub

For the last two weeks we have reported and researched the possibility of a food shortage due to a mixture of freezing temps, moves by our government that seem to hurt rather than help food prices, and hot, dry weather in the regions that haven’t froze.

Here are just a few of the hundreds of articles that have come out in the past month that point to rising food prices worldwide.

In Ireland, tens of thousands are without water due to freezing weather that has burst pipes throughout the country.

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While Europe and the east coast of the United States have fell victim to numerous blizzards, South America is experiencing hot, dry weather that has rose fears that corn and soybean crops will be damaged.

Dec. 27 (Bloomberg) — Corn may rise for a sixth straight week and soybeans may gain on speculation that hot, dry weather will damage crops in Brazil and Argentina, the two biggest exporters after the U.S.

Seventeen of 24 traders and analysts surveyed in the U.S. on Dec. 23 said corn will rise, and 19 of 25 respondents said soybeans will advance for the fifth time in six weeks. Last week, corn futures for March delivery climbed 2.9 percent to $6.14 a bushel on the Chicago Board of Trade. Soybean futures for March delivery rose 3.8 percent to $13.60 a bushel.”

In Colorado, lack of moisture is threatening wheat crops in what farmers have described as the worst they have seen in 30 years.

The Greeley Tribune

Farmers are survivors.

That’s why many will shrug off this year’s bad start to the winter wheat crop, still resting on the little bits of hope for moisture they keep alive.

“Now, it’s probably the worst we’ve seen in 30 years,” said Jim Cooksey of Cooksey Farms southeast of Roggen.

Four months of little to no moisture is taking its toll on the crop, which blankets fields across northern Colorado. That means hopes for even an average harvest next summer are starting to dwindle.

In London, wheat prices rose to match prices in France and United States. Dry weather in Argentina is also threatening corn and soybeans.

[more...]

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