Wheat Fields Wilt in Drought as Parched Earth Spreads From China to Kansas

phantom power

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Mon Jun-06-11 10:16 AM
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Wheat Fields Wilt in Drought as Parched Earth Spreads From China to Kansas

The worst droughts in decades are wilting wheat fields from China to the U.S. to the U.K., overwhelming Russia�s return to grain markets and driving prices to the highest levels since 2008.

Parts of China, the biggest grower, had the least rain in a century, some European regions are the driest in 50 years and almost half the winter-wheat crop in the U.S., the largest exporter, is rated poor or worse. Inventory is dropping 8.8 percent, the most in five years, Rabobank International says. Prices will advance 20 percent to as high as $9.25 a bushel by Dec. 31, a Bloomberg survey of 14 analysts and traders shows.

http://www.bloomberg.com/news/2011-06-05/wheat-fields-wilt-in-drought-as-parched-earth-spreads-from-china-to-kansas.html

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LynneSin

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Mon Jun-06-11 10:16 AM
Response to Original message

1. Oh but Global Warming is a hoax

:eyes:

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KansDem

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Mon Jun-06-11 10:29 AM
Response to Reply #1

3. Yeah! All these horrendous floodings, tornadoes, erratic temperatures, and the like...

...are all part of a natural phase.

Never mind that producing 19 pounds of CO2 for every gallon of gas burned has nothing to do with it...

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dkf

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Mon Jun-06-11 10:18 AM
Response to Original message

2. Prices are due to evil speculators doncha know.

Nothing to do with supply, demand or shortages.

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OnlinePoker

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Mon Jun-06-11 12:31 PM
Response to Reply #2

7. There are no shortages

We'll see how it goes after this summer, but the USDA May report showed good but tight levels of production/consumption. The problem is, we are producing millions of tons more grain, corn and rice than we did a decade ago, with higher yields for all, but we also have hundreds of millions more eaters as well.

http://www.fas.usda.gov/grain/circular/2011/05-11/grain.pdf

Go to page 55 to 56 of the above link to see the historical production/consumption back to 89/90 production year for wheat, grains and corn, and page 57 for rice back to 82/83

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girl gone mad

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Mon Jun-06-11 12:35 PM
Response to Reply #2

8. There have been no major supply disruptions..

demand has not surged and there are no shortages.

Your bias for the big banks is clouding your judgment again.

http://www.bloomberg.com/news/2011-06-05/commodity-bubbles-caused-by-speculators-need-intervention-un-agency-says.html

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DURHAM D

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Mon Jun-06-11 11:11 AM
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4. If you are interested -

following is a link to a Coop in central Kansas showing today's prices. The wheat harvest has not yet started there. It will probably commence in less than a week.

The daily price change will be posted in about two hours from now.

http://coopunion.com/

Click on "Departments" and scroll to the bottom for a four year look-back at price per bushel - average, high, low for wheat, milo, corn, soybeans.

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dixiegrrrrl

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Mon Jun-06-11 11:56 AM
Response to Reply #4

5. THAT is most helpful information.

Always best at the closest source, I find.

Bookmarking, with thanks.

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DURHAM D

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Mon Jun-06-11 01:09 PM
Response to Reply #5

9. You are most welcome.

I check it daily (this time of year) as I own farmland (inherited from my mother) out there mostly planted in wheat and some milo. This year we are trying a few acres of soybeans for the first time - double cropped with the wheat.

Once harvest begins then the process of trying to decide when to sell begins (always hoping to catch the "high") but knowing that I will likely miss it. Its actually fun. It takes me back home whenever I click on the website.

JFTR - my great grandmother and grandfather always said the best time to sell is when "You get it to the elevator". Times have changed.

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dixiegrrrrl

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Mon Jun-06-11 02:06 PM
Response to Reply #9

10. Are you able to avoid planting GM seeds?

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DURHAM D

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Mon Jun-06-11 05:03 PM
Response to Reply #10

11. No, I don't think so.

I have actually never asked my farmer. I will do that. I know that for the soybeans avoiding them is not possible. I assume for wheat it is now the same. Good reminder - I am still learning how to do this.

I didn't grow up on a farm - but the family farm was just a few miles out of town and I road my bicycle out there most days during the summer. During harvest the entire extended family returned to help out and we would sleep in the barn and in tents because there was not enough room in the house and basement - it was always exciting.

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txlibdem

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Mon Jun-06-11 12:29 PM
Response to Original message

6. Global climate change, droughts, floods, resource conflicts-sounds like we need some luck

Just a little bit of good luck to help us dig our way out of these troubles...

Oh well...

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