[Renfield]

Meanwhile, an extended period of heavy rains has left much of America's Corn Belt too wet for planting. I fear we will see grain prices rise even further beyond their already high levels within a few months.

[Renfield]

[Uncle Ike]

ping

Disturbing, if accurate...

(This could very well be mis/disinformation from the pro-Farm-Bill Lobby.. Watching for confirmation from a more neutral source...)

[Joya]

US Grain Reserves info; ping.

[LibLieSlayer]

Thank you dims... we are almost a broken country... I really commend you on the promised change that the party of the A$$ has brought to us. joe stalin is proud of you dims!

LLS

[LesbianThespianGymnasticMidget]

I used to deal with the CCC. A lot of what they do is finance foreign purchases of US grains. An example would be the 60,000 metric tons of feed corn we (The company I worked for) sold a very large Egyptian chicken farming conglomerate. The CCC backed their letter of credit.

Overall with the exception of Japan, our allies are net food exporters. Our enemies and the supposed allies like the Saudis on the other hand are for the most part net food importers. Global inflation of food prices because of increased fuel cost and a shifting of grains to bio fuel may not be all bad given that the percentage of our incomes we spend on food vs. the rest of the world is minuscule. This is going to hurt our enemies a lot more than our friend, and balances out the trade equations with “Food for Oil”

My 2 cents.

[Straight Vermonter]

Larry Matlack, President of the American Agriculture Movement (AAM), has raised concerns over the issue of U.S. grain reserves after it was announced that the sale of 18.37 million bushels of wheat from USDA’s Commodity Credit Corporation (CCC) Bill Emerson Humanitarian Trust.

“According to the May 1, 2008 CCC inventory report there are o­nly 24.1 million bushels of wheat in inventory, so after this sale there will be o­nly 2.7 million bushels of wheat left the entire CCC inventory,” warned Matlack.

24.1 - 18.37 = 2.7 say what?

[doodad]

Who was the buyer for the 18 million bushels and why was it approved then?

[Dust in the Wind]

Meanwhile, along the Red River area of Oklahoma and Texas the grain storage/shipping facilities are full or filling with the currently being harvested 2008 wheat crop...one source news is never good.

[tiki]

I haven’t been so worried about the planting but the harvesting of the spring and winter wheat.

I know around here it looks to be a tough year. It isn’t like there are many that aren’t tough but everyday there is another farmer who is replanting. It was cold, dry and windy until a few weeks ago, now it is hot, dry and windy.

Being raised during the nuclear scare by an Air Force father, I have always tried to keep a 30 day supply of food on hand but I know a lot of people who shop everyday.