Agricultural products skyrocketing in price?
Agri-business profits soaring?
MISSION ACCOMPLISHED 
Posted on 03/11/2008 7:02:10 AM PDT by TigerLikesRooster
WASDE-456 March 11, 2008
WHEAT: Projected U.S. wheat ending stocks for 2007/08 are lowered 30 million bushels this month on higher projected food use and exports. Food use is raised 5 million bushels based on the latest mill grind data from the U.S. Bureau of Census. Hard red spring wheat food use is increased on indications that discounts for spring wheat relative to winter during the first half of the marketing year encouraged heavier use. Exports are raised 25 million bushels based on the pace of export sales and shipments and on continued export restrictions by major competitor countries. Despite record prices, export commitments for U.S. wheat continue to accumulate raising prospects for higher exports of hard red winter, hard red spring, and durum wheat than projected last month. Ending stocks are projected at 242 million bushels with stocks-to-use dropping to 10 percent, the lowest since 1946/47. The projected range for the season-average farm price is narrowed 5 cents on each end to $6.50 to $6.80 per bushel.
(Excerpt) Read more at usda.mannlib.cornell.edu ...
Ping!
looks like the days of parity are over ?
Demand from the worlds new middle classes does not bode well for stable food prices here..
on the other hand, the market seems to have gone a long way toward solving “world hunger”
Just wait till we figure out how to burn it in our gas tanks...
Agricultural products skyrocketing in price?
Agri-business profits soaring?
MISSION ACCOMPLISHED
So we’re down to 36.5 days worth of wheat in stock?Futures are up 60 today,the rest of the week should be “interesting”.
A symptom of the Great Depression was not shortages of commodities but commodities piling up unsold. Nobody buying. In this aspect the present situation does not resemble the Great Depression.
From a financial newsletter to which I subscribe:
“The global agricultural market is already stretched to the limit. The problem is there aren’t too many sources of agricutural land under development.”
So that is good news. Right?
Part of the reason for the high wheat prices is the larger than usual number of acres that were put in corn for the previous growing season. Three guesses as to why this is the case and the first 2 do not count...
Could be developing that way. Also, I see that we are in fact still in the Great Depression, that it never ended. We’re in deeper than ever and it is invisible only because of the $20 trillion of debt that has been allowed. Printing money, like today the $200 billion or whatever for the stock market crowd, keeps things moving, but we will never get out of the Great Depression. As further consideration, the ‘laws’ of economics are not functioning nor are they in use, and we are in an economic universe where nobody has a clue but to print more money.
See posts below
Wheat up 1.40 for March delivery,WOW.
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