Posted on 04/24/2008 11:39:57 PM PDT by givemELL
David Kotok, chairman and chief investment officer of Cumberland Advisors, said the deadly fungus, Puccinia graminis, is now spreading through some areas of the globe where "crop losses are expected to reach 100 percent.”
Losses in Africa are already at 70 percent of the crop, Kotok said.
"The economic losses expected from this fungus are now in the many billions and growing. Worse, there is an intensifying fear of exacerbated food shortages in poor and emerging countries of the world,” Kotok told investors in a research note.
"The ramifications are serious. Food rioting continues to expand around the world. We saw the most recent in Johannesburg.
"So far this unrest has been directed at rising prices. Actual shortages are still to come.”
Last month, scientists met in the Middle East to determine measures to track the progress of "Ug99,” which was first discovered in 1999 in Uganda.
The fungus has spread from its initial outbreak site in Africa to Asia, including Iran and Pakistan. Spores of the fungus spread with the winds, according science journal reports.
According to the Food and Agriculture Office (FAO) of the United Nations, approximately a quarter of the world’s global wheat harvest is currently threatened by the fungus.
Meanwhile, global wheat stocks are at lows not seen in half a century, according to the U.S. Department of Agriculture.
Scientists fear that the spores could spread on the wind and reach the U.S. and Canada or Europe.
"It will take five to eight years to genetically engineer a resistance,” said Kotok. "In the interim, U.S. agriculture faces higher risk.”
Kotok is worried that governments around the globe are reacting to the crisis — which he believes is as big of a threat as bird flu — inappropriately by artificially lowering the prices of domestic wheat...
(Excerpt) Read more at moneynews.com ...
I wonder if he shorted wheat before writing this artical
Globalwarming strikes again /s
"It will take five to eight years to genetically engineer a resistance,” said Kotok. "In the interim, U.S. agriculture faces higher risk.”
I guess were close to the cure, then.
yitbos
Well of course not, not with all those eco-terrorists waving their signs against “genetically modified” crops. As if all the varieties of organic apples that they eat AREN'T genetically modified, albeit in a slower and older manner using grafting.
Seems a lot of chicken littles are coming out of the closet this year. I guess they feel a need to help the floundering global warming alarmists.
Where’s the wheat leaf rust guys? Hordes of locusts guys?
Fusarium(?) guys?
Truth of the matter is, these are all common crop problems which are controlled by fungiscides and herbicides.
Personally, I could give a rats ass if so called “organic wheat growers” get wiped out. These farmers are largely responsible for outbreaks of crop infestations and weeds in the first place, which drive up the need for herbicides and fungicides for other farmers.
I think Uganda is considered to be where AIDS came from - in the Lake Victoria area. Just a coincidence I suppose.
That says it all.
Those aren't "scientists" they are fear mongering global warming alarmists, anti-GM modified crop activists. See what happens when these UN nuts force poor countries to farm using their half-witt ideas? they get infestations and crop failures.
That failure led to shortages of grains around the world (the true cause of last month's march on Washington by the bakers...protesting wheat prices).
The massive increase in the cost of putting the corn and soybean crops in the ground, due to oil prices is going to make for some serious problems over the next year.
Not to mention the fact, that we are WAY behind on planting all over the Country due to cold temps and rain. The next week does not look good, either. Check out NOAA radar as we speak.
More than one source, always denounced as bigoted, but including a Union of South Africa health minister, that most African aids is in fact malnutrition. It is just an easier way to beg for food. In the west, African "aids" charity is promoted by the politically powerful homosexual community for western consumption as a heterosexual disease.
yitbos
There are a lot of cows kicking around as well that Canadian cattle farmers can't sell.
There are no food shortages in this world, only shortages of political intelligence.
I doubt it, this is just around the corner from where the oldest human remains were found as well. Must be something funny in the water :)
We just got 15 inches of snow. Normally We’d be beginning seeding. Last year was late as well, but still had a good crop, which wasn’t worth beans at last years prices, and after rail costs etc. were taken off.
The substitute pastor at church last Sunday had been to Uganda and we saw some photos. There was a woman who had lost two husbands, all her same age relatives and one daughter to AIDS and she is HIV positive. She is in Seattle as we speak - the church brought her. A grim life but she is happy apparently and they wonder how we handle our complicated lives.
Well, that's not going to help the soil temperature much.
WE have snow in the forecast for Saturday (no accumulation expected) but for Pete's sake...snow in Iowa on April 26?? Yuck!
I can all see the blood labs in the bush now testing for HIV. And then double checking to make sure they are not false positives. Then waiting 6 months for the second test to see if it is Aids.
yitbos
No, but the moisture was needed. There's lots of time to seed yet. As long as it's in before the end of May.
Plus You never know, with this cooler weather, the risk of frost could still be there at the end of may, so getting seed in too early could be a costly mistake. It's happened in the past. We're a bit more north than you (ND)so seeding generally just starts happening when you're done..
I'm sure Reverend Wright has a different explanation for this.
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